XRP Still up 300% From Pre-Rally Levels; What Comes Next?

XRP, the fourth-largest cryptocurrency by market capitalization, is holding strong above the $2 mark, more than 300%, or three times higher than its base price before the sharp rally that began in November 2024.

Investors who accumulated earlier before this time are sitting on over 300% gains, according to Glassnode, indicating significant gains. However, signs of market rotation are beginning to emerge.

Glassnode reports that in early June, investors began realizing profits at an average pace of $68.8 million per day (seven-day SMA). This surge in realized profits suggests that early holders might be distributing their coins, potentially to new entrants or retail buyers chasing the rally.

XRP is trading above $2, more than 3x higher than its base price before the sharp rally in November 2024.

Investors who accumulated earlier are sitting on over 300% gains.

In early June, they began realizing profits at a pace of $68.8M per day (7D-SMA), signaling a wave of…

At press time, XRP was up 0.13% in the last 24 hours to $2.17. XRP has been locked in a range of $2.06 and $2.338 since late May. The daily RSI has flattened slightly below the 50 midpoint, highlighting the possibility of consolidation or range trading in the coming sessions.

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Contrary to this notion, if the price falls further and breaks below $2, it might signify the start of a new downward trend to $1.61. Buyers will benefit from a close above $2.34. XRP may then rise to the overhead resistance of $2.65.

XRP news

This week, Canadian asset management firm 3iQ launched a new XRP-focused ETF for North American investors. The 3iQ XRP ETF (XRPQ), now listed on the Toronto Stock Exchange (TSX), provides long-term exposure to the fourth-largest digital asset by market capitalization. 3iQs latest ETF follows another XRP-focused launch from Purpose Investments, which started trading its spot XRP ETF this week.

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The U.S. Securities and Exchange Commission has launched a public comment period for Franklin Templetons proposed ETFs, the Franklin XRP ETF and the Franklin Solana ETF, both of which seek to list on the Cboe BZX Exchange.