Will XRP Explode after April 30? New Futures ETFs Could Send Price Flying – Price Prediction
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XRP could be on the brink of a major breakout, with a critical catalyst just days away. ETF giant ProShares is set to launch three futures-based funds tracking XRP’s price on April 30, according to a new SEC filing.
ProShares will debut an Ultra XRP ETF (2x leveraged), a Short XRP ETF (inverse exposure), and an Ultra Short XRP ETF (-2x leveraged). These funds, proposed back in January, recently passed the SEC’s review period without objection.
The move is a silent green light that often hints at a favorable regulatory and environment.
Notably, while these futures ETFs are gearing up for launch, ProShares’ spot XRP ETF application remains pending, alongside those from major asset managers like Grayscale, 21Shares, and Bitwise.
Bloomberg ETF analyst Eric Balchunas noted the unusual move: “Very odd (maybe a first) that a new asset’s first ETF is leveraged.” He added that approval odds for a spot XRP fund remain high.
XRP Technical Analysis – Where Is XRP Heading Now?
XRP is flashing strong bullish signals after breaking out of a falling wedge – a pattern often marking major reversals.
XRP’s price action from January through April neatly formed this pattern, culminating in a decisive move above the wedge’s upper trendline just days ago.
The immediate resistance is at $2.60, a previous horizontal level. If XRP can close above this, the next target sits around $2.85-$2.90, aligning with earlier highs from late January.
XRP Daily Chart. Source: TradingView
A measured move from the wedge breakout suggests a potential upside towards $3.20-$3.30, matching the height of the wedge added to the breakout point.
On the other hand, if the bullish momentum falters, XRP could retest the wedge breakout zone near $2.10–$2.15. A deeper pullback might see prices revisit the $1.85–$1.90 region.
Adding fuel to the bullish scenario, the MACD indicator recently triggered a bullish crossover, with the MACD histogram remaining substantially bullish.
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