XRP Eyes $2.65 Breakout As Two Canadian ETFs Officially Launch
XRP XRP/USD has been trading sideways for weeks, but that hasn’t discouraged bulls. With the launch of two XRP ETFs in Canada, momentum could be building for a breakout above $2.65, with some traders even eyeing the $5 level.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP XRP/USD | $2.14 | $126. billion | -3.2% | -7.4% |
| Bitcoin BTC/USD | $104,701.16 | $2.08 trillion | -0.4% | -4.6% |
| Ethereum ETH/USD | $2,523.49 | $305 billion | -1.2% | -9.8% |
Trader Notes: More Crypto Online believes XRP’s consolidation is typical market behavior. He suggests wave 4 may have bottomed in April, and if the current structure confirms, a move above $2.65 could act as a trigger for a run toward $5.
CRG highlights XRP’s high-timeframe (HTF) strength, noting it’s one of the few altcoins that surged in Q4 2024 and held onto those gains. Importantly, the 2021 top has now flipped into support, aligning with the 0.5 Fibonacci retracement, making it a strong medium-term bid zone.
He adds that the golden pocket lies lower, but would only come into play if a major market-wide crash occurs, suggesting XRP is currently in a re-accumulation phase ahead of potential altcoin outperformance.
Statistics: Whale Alert reported a 200 million XRP transfer (worth ~$438.9 million) from Ripple to an unknown wallet, sparking speculation around institutional interest or ETF seeding activity.
Community News: Among the major community developments, ETF developments and policy updates are an integral part.
- The Purpose XRP ETF officially launched on Wednesday on the Toronto Stock Exchange (TSX), marking the first spot XRP ETF in Canada.
- Also launched Wednesday is the 3iQ XRP ETF (XRPQ), backed by Canadian asset manager 3iQ. Ripple is an early investor in the fund. XRPQ is available to Canadian retail investors through registered accounts and to select international investors.
- The SEC is reviewing public comments on two new ETF proposals from Franklin Templeton, for XRP and Solana ETFs to be listed on the Chicago Board Options (CBOE) BZX Exchange. Proceedings are underway that could greenlight the Franklin XRP ETF and Franklin Solana ETF on U.S. exchanges.
Policy Updates: In an X post on Wednesday, Ripple CEO Brad Garlinghouse applauded the U.S. Senate’s passage of the GENIUS Act, calling it the first major financial legislation since Dodd-Frank, and the first crypto bill to pass in the Senate. The bill sets a federal regulatory framework for stablecoins, which Ripple says will benefit its operations.
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