XRP Price Surges to $2.27: A Bullish Breakout in Play

As of April 28, XRP is trading at $2.27, marking a 4.80% daily gainas per Coinpedia Market data. Trading volume has also jumped to $3.9 billion, showing strong market activity. XRP has confirmed a breakout from an inverted head-and-shoulders pattern, signaling a bullish reversal that has caught investors' attention.

For a more detailed XRP Price Prediction 2030, check out our full analysis!

Strong Trading Activity Boosts XRP's Momentum

Over the last 24 hours, XRP has recorded an intraday high of $2.29 and a low of $2.17.
The surge in trading volume reflects growing interest from both retail and institutional investors. This uptick in activity often leads to significant price movements, and XRP seems well-positioned for further gains.

XRP Price Analysis: Breakout from Key Patterns

XRP has been trapped within a descending parallel channel for several months. Breaking out of this channel is a strong bullish signal, suggesting the end of the prolonged downtrend.
Currently, XRP is trading just below the channel’s upper boundary at $2.28.

The breakout from the inverted head-and-shoulders pattern further strengthens the bullish outlook. After crossing the neckline around $2.20-$2.25, XRP rallied to $2.27, confirming the reversal. Traders are now watching the next resistance level at $2.36 closely.

• RSI Status: The Relative Strength Index (RSI) has risen to 59.28, indicating growing buying pressure without being overbought.

• MACD Indicator: The MACD line has crossed above the signal line, suggesting bullish momentum is gaining strength.

XRP Price Targets to Watch

If the bullish momentum continues, XRP could aim for the following targets:

• First target at $2.36

• Next levels at $2.56 and $2.76 based on Fibonacci retracement levels

• Breakout above $2.76 could lead to $3.04 and $3.40

On the downside, key support levels are at $2.17 and the psychological level at $2.00. A deeper correction could push XRP towards $1.85, near the lower boundary of the previous channel.

ProShares XRP Futures ETF Approval: A Major Milestone

The SEC has officially approved the launch of the ProShares XRP Futures ETF, set to go live on April 30, 2025.
This is a major regulatory achievement and is expected to boost institutional interest and increase trading volumes for XRP.

Investors should stay alert for short-term price spikes as ETF inflows could cause sudden changes in volatility and liquidity. The ETF approval also places XRP among other regulated crypto assets, making it more appealing to cautious investors and portfolio managers.

Funding Rates Show Strong Bullish Sentiment

Recent derivative market data highlights strong bullish sentiment:

• Trading volume surged by 79.20%, reaching $8.35 billion.

• Open interest rose by 3.82%, now standing at $3.99 billion.

• Options trading saw a massive jump, with volume up 114.52% and open interest up 16.79%.

Long-short ratios on major exchanges, especially Binance, are heavily skewed toward long positions, showing strong confidence in XRP’s upward movement. Weighted funding rates also suggest that traders are favoring long positions heavily over shorts.