XRP Approaches Multi-Month Highs With ProShares ETF Approval, Is the Uptrend Toward $3 Imminent?

The digital asset XRP from Ripple maintains positive price predictions, as analysts anticipate it will reach $3 soon. The SEC’s approval of the ProShares XRP ETF has created opportunities for cryptocurrency investors by unlocking fresh potential. Currently, the cross-border payment token (XRP) has surged 6% in the past 24 hours to a multi-month high of $2.35 before retracing to $2.32.

Bullish Momentum? What Is Behind the Recent XRP Price Surge

XRP’s market price surge reached its highest level in multiple months as the SEC approved ProShares XRP ETF. XRP has reached an important achievement with the SEC approval, since investors can now access cryptocurrency exposure through traditional financial market investments. The regulatory clarity from the SEC brought more confidence to investors, who now show increased confidence in the Ripple token.

SEC GREENLIGHTS PROSHARES' XRP FUTURES ETFS: DETAILS…

– The U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust to launch three XRP futures-based ETFs.

The three ETFs are scheduled to go live on April 30 and are structured as follows:

– Ultra XRP ETF:… pic.twitter.com/a9JW7EuTe7

— BSCN (@BSCNews) April 28, 2025

An important development for XRP happened when ProShares received regulatory approval to launch its XRP ETF. Although it is not a spot ETF, it is the very first futures XRP ETF, which could ignite further upside in the Ripple token. This ETF has the potential to attract institutional investors, boost trading volumes, and steady price elevation. ETFs provide investors with an easier and safer method of handling digital assets, so the approval process will boost capital flows into XRP, potentially pushing the XRP price to $3.

XRP Market Paints The Bigger Picture as Bullish

Various indicators confirm that XRP may achieve a price point of $3. The cryptocurrency XRP demonstrates exceptional price stability that withstands market price movements, while the broader cryptocurrency market experiences volatility. The coin’s market valuation keeps increasing alongside better market liquidity, which results from new institutional interest sparked by the ETF approval set to launch on April 30. 

A technical analysis reveals that XRP is bullish because its moving averages and RSI indicators display positive upward momentum. Mainstream recognition of XRP creates conditions for its price to surpass previous records up to $3. The ETF news momentum and market-wide industry support create perfect conditions for XRP to reach its $3 target.

Chart 1- XRP/USD 1-day Price, provided by Emmaculate, published on TradingView, April 28, 2025.

The bulls have flipped the key moving averages into support levels at $2.00 and $2.18, aligning with the 200-day and 50-day MAs. If the key support levels hold steady, the XRP price could be poised for more upside towards $2.54, $2.70, and $2.80 in the short term. The bulls could break out to $3 in a highly bullish case. 

XRP Technical Indicators Point to Further Upside 

Moreover, the RSI is sitting above the 50-mean level at 61. This indicates intense buying pressure in the market, pushing it to the 70-overbought region. Moreover, the MACD momentum indicator has flipped above the orange signal line, indicating a bullish divergence. Investors and traders are at liberty to buy more XRP unless the MACD changes.

Future expectations for XRP present favourable conditions; however, several external variables will influence its ability to reach $3. XRP needs ongoing institutional interest for its market expansion to succeed. The upcoming wave of financial products utilizing XRP represents the beginning of wider market adoption. It puts the ETF approval in a position to be the first step toward broad market acceptance.

However, if early profiteering commences in the XRP market, the Ripple token could drop. The $2.23 support area will act as a safety net against further downside in such a scenario. However, if the $2.23 area gives way, a further drop could be imminent towards the $2.18, $2.13, and $2.08 support levels. Until then, the bulls have the upper hand, as the odds tilt towards further upside. 

On-chain Metrics Show a Positive Ripple Future Outlook 

XRP derivatives data analyzed by Coinglass present a favorable market environment, as open interest and volume experienced sharp increases. During this period, the OI increased by 7% to $4.16 billion, while the volume soared by 132%, reaching $9.97 billion. An increase of 350% brings the options volume to $1.52K, while increases in options open interest reached 20%, for $ 627.51 K.

Image 1- XRP Derivatives Data Analysis, provided by Emmaculate, published on CoinGlass, April 28, 2025.

The XRP market is intense as investors show increasing trust in XRP investments. XRP attracts fresh capital inflows from investors, and this buying pressure could drive the price toward $2.80 soon. The launch of ProShares XRP ETF on April 30 is a promising catalyst, which may cause XRP to reach $3 quickly.