The price movement of XRP is a topic of interest among traders as it approaches a crucial support level at $2.27. Analysts suggest that XRP must hold above this level to maintain its upward momentum, with a potential target of $3. Institutional interest in XRP-based exchange-traded funds (ETFs) indicates a growing demand for the asset. However, XRP has recently been testing the lower boundary of an upward parallel channel on the chart, and a break below $2.27 could undo its current uptrend. On the other hand, a successful hold above this support level could push XRP towards $3. Another analysis suggests a potential double-bottom breakout for XRP's market capitalization chart, with a target of $3.4 trillion, which could result in a massive price increase to $59 per token. The race to launch XRP-based ETFs is gaining momentum, with major financial institutions positioning themselves for regulatory approval. Despite potential regulatory hurdles, the demand for crypto-based ETFs, including XRP, continues to rise.



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