XRP Holds Key $2.38 Support After Bullish Breakout, Analysts Eye Move Toward $3

XRP holds strong $2.38 support after breakout, signaling buyers’ defense and trend continuation.

Nasdaq-listed XRP ETF launch boosts liquidity and investor access through regulated exposure.

Analysts target $3 short term, with long-term Fibonacci projections reaching up to $36.77.

XRP formed a strong double bottom pattern, followed by a bullish breakout that pushed price to a new major high near $2.50. After a healthy pullback, the market is now holding support near $2.38, suggesting buyers are defending the zone. At the time of writing, XRP was trading at $2.35.

XRP Maintains Bullish Structure After Double Bottom Formation

XRP’s one-hour chart shows a full transition from a downtrend to an uptrend, according to analysis prepared by BitGuru. The double bottom formation confirmed reversal as buying pressure increased near the lower range, pushing price above the neckline. The breakout formed a “bullish beauty” pattern, reflecting renewed momentum.

Following the breakout, XRP rallied sharply to a new major high near $2.50 before entering a controlled retracement phase. The pullback settled around $2.38, which has since acted as strong support where buyers continue to accumulate. Market data shows consolidation between $2.35 and $2.50, indicating stability within the broader bullish structure.

Technical indicators suggest the trend remains intact, with consistent higher lows confirming continued strength. Analysts note that holding the $2.38 level could open the path toward $3.00 in the near term. The $2.50 zone is still a major resistance zone with the traders watching for momentum within the upward channel.

XRP ETF Launch Adds to Market Strength

The first U.S. spot XRP exchange-traded fund (ETF) launched today on Nasdaq, managed by Canary Capital. According to Nasdaq, the fund provides direct XRP exposure under a regulated structure, accessible to both institutional and retail investors. Bloomberg analysts noted that the launch expands liquidity and strengthens investor access across brokerage platforms.

Source: DarkDefender(X)

Nasdaq confirmed Canary Capital received full regulatory approval to operate the XRP fund under strict oversight. The ETF’s introduction has attracted strong interest, with rising activity reported ahead of the trading session

Market participants view the product as a key milestone for XRP’s accessibility and compliance-driven growth. Meanwhile, analysis by Dark Defender shows XRP trading above weekly support at $2.64, with resistance near $2.85. Fibonacci forecasts indicate increased long-term goals of $5.85, $18.22, and $36.77 which depict longer-term bullish set up and investor optimism.

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