XRP Price Rally to $10 Remains Intact on Strong XRP ETF Debut

Ripple’s native cryptocurrency XRP has been under selling pressure, correcting 5% over the past week. However, crypto market analysts continue to stay bullish with expectations of a rally to $10 and beyond. The successful debut of Rex-Osprey XRP ETF (XRPR) has further boosted market sentiment.

XRP Price Rally to $10 Remains Intact

Despite the US Federal Reserve announcing interest rate cuts earlier this week, the crypto market activity has remained subdued. XRP price has flirted with $3,0 for a while as investors wait on the sidelines for an upside rally.

Despite the current selling pressure, crypto market analyst Javon Marks believes that the Ripple cryptocurrency is poised for a rally to $10. Sharing the XRP price chart, Marks noted that the altcoin could rally more than 226% toward the $9.90 level. Marks added that a breakout above this threshold could potentially drive XRP toward $20 and beyond.

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On the other hand, on-chain data indicate that the XRP price will continue to gain strength, moving forward. Crypto analyst Tom Tucker stated that XRP’s bullish structure remains intact, citing on-chain data showing sustained accumulation since August 22.

According to Tucker, heavy positioning has taken place in the $2.70–$3.00 range following profit-taking in July. He added that new players buying on dips have so far managed to absorb the selling pressure. Tucker noted that XRP could be positioned for a potential move toward the $5.00–$5.50 range in Q4.

XRP ETF Launch Creates Market Buzz

Rex-Osprey launched the XRP ETF (XRPR) earlier this week, driving more than $37 million in trading volume on the debut day. Within just 90 minutes of launch, the fund recorded $24 million in trades, surprising even seasoned analysts.

Bloomberg’s Eric Balchunas described the performance as “remarkable,” noting that most new ETFs typically struggle to exceed $1 million in first-day trading volume.

Furthermore, with the U.S. Securities and Exchange Commission (SEC) approving the generic listing standards for crypto ETFs this week, the chances for the arrival of a spot XRP ETF, with complete exposure to the Ripple cryptocurrency, have surged further.

Ripple Chief Technology Officer Stuart Alderoty stated that new listing standards for crypto ETFs represent a significant step in bringing the asset class further into mainstream markets. He added that regulatory clarity not only strengthens policy but also builds confidence among U.S. investors.

Read original story XRP Price Rally to $10 Remains Intact on Strong XRP ETF Debut by Bhushan Akolkar at Coinspeaker.com

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