XRP Breaks Resistance: Is $5 in Sight?

Major resistance $2.25

XRPUSD breaks major resistance after a long consolidation.  It hit an intraday high of $2.36 and is currently trading around $2.33. A daily close below $1.60 could signal a further minor bearish trend. XRP remains above both short-term (34 EMA and 55 EMA) and long-term moving averages (200-day EMA) on the 4-hour chart confirming a bullish trend.

The ProShares' XRP futures ETFs listing on April 30, 2025, will bring in a possible influx of $100 billion of capital into XRP. Three ProShares XRP futures ETFs, including inverses and levers, were approved by the U.S. SEC. This, along with the soon-to-be-listed CME Group's XRP futures on May 19, a less contentious regulatory environment, and expected institutional investor entry by players such as BlackRock, is to provoke significant new inflows of investment into XRP. Although these ETFs are on futures, they are seen as a stepping stone to fuller institutional adoption and liquidity, attesting to XRP's increased popularity in regulated markets

Resistance and Support Analysis
The immediate resistance level for XRP is around $2.50, and a breakout above this level will push prices higher to $2.60/$2.80/$3/$3.40/$4. Any breach above $4 confirms further bullishness, a jump to $5. On the downside, immediate support lies at $2 any break below targets  $1.89/$1.60, $1.27, $1.00, $0.85, and $0.74.

CCI(50)- Bullish

Directional Movement Index - Bullish

Trading Strategy Recommendation

It is good to buy on dips around $2.20 with SL around $1.80 with SL around $3/$3.35.