XRP Battles Key Resistance as Market Eyes $3 Breakout

XRP, the fourth-largest cryptocurrency by market capitalization, is at a crucial juncture as it struggles to break above its daily SMA 50 at $2.18. The coin reached an intraday high of $2.24, igniting hopes of a breakout toward the $3 mark. However, selling pressure has kept XRP below this important technical barrier, with bears firmly defending the level. In addition, institutional developments are fueling renewed optimism in the cryptocurrency. Asset manager Hashdex recently launched the world’s first XRP ETF on the Brazilian stock exchange, while CME Group announced plans to introduce cash-settled XRP futures, pending regulatory approval, on May 19, 2025. These initiatives underscore growing institutional and retail adoption of XRP, potentially setting the stage for a significant price rally if the technical resistance is ultimately overcome.