XRP News: Why Is XRP Price Up Today? Futures ETF Launch, Whale Accumulation, and Technical Breakout Fuel Optimism

XRP Eyes 55% Rally as Market Momentum Builds Ahead of Key CatalystsXRP rose nearly 5% today, reaching an intraday high of $2.36, extending a three-week rally that has lifted its price by more than 46%. Several key factors are contributing to the renewed bullish momentum for XRP, including the approval of XRP futures ETFs, whale accumulation, and a technical breakout suggesting further upside.ProShares XRP Futures ETF Approval Boosts SentimentXRP's latest price surge follows the U.S. Securities and Exchange Commission’s (SEC) approval of three XRP futures-based exchange-traded funds (ETFs) under ProShares Trust.The newly approved products — ProShares XRP Strategy ETF, ProShares Short XRP Strategy ETF, and ProShares XRP Blend Strategy ETF — are scheduled to launch on April 30, 2025, providing investors with indirect exposure to XRP price movements.In addition, the CME Group recently announced plans to list XRP futures contracts alongside BTC, ETH, and SOL futures starting next month, further expanding XRP’s presence in regulated derivatives markets.While progress on a spot XRP ETF remains pending, with key decisions due in May, market participants view the futures ETF approval as a major step toward broader institutional adoption.Whale Accumulation Strengthens Price SupportData from Glassnode shows a steady rise in the number of XRP addresses holding at least 10,000 XRP tokens, particularly during the recent 30% price correction from January’s highs of $3.40.This whale accumulation trend signals growing investor confidence and suggests that selling pressure remains limited, creating a strong base for continued price appreciation.XRP Technical Breakout Targets $3.63From a technical perspective, XRP has broken out of a falling wedge pattern — a historically bullish reversal formation.The breakout points to a potential price target of $3.63, representing a 55% upside from current levels.XRP is now holding above its 50-period 3D exponential moving average (EMA), which has served as a crucial historical support level.The Relative Strength Index (RSI) remains neutral between 30 and 70, indicating room for further gains without signaling immediate overbought conditions.Analysts argue that maintaining price action above key moving averages will be critical for XRP’s continuation toward the $3.63 breakout target.Market OutlookWhile short-term volatility remains possible, the convergence of institutional product launches, whale accumulation, and technical breakout confirmation suggests that XRP's price could see further upside in the coming weeks.Market participants are now closely watching the futures ETF launch on April 30 and any developments regarding spot XRP ETF approvals, which could further strengthen XRP's position in both retail and institutional portfolios, according to Cointelegraph.