XRP ETF Goes Live July 18: Bulls Aim for $3 Breakout

Key Insights:

• ProShares XRP ETF goes live on July 18 amid rising market demand.
• Whale wallets now control over 47.3B XRP, hitting a record high.
• XRP price nears $3 with strong MACD and overheated RSI indicators.

The ProShares XRP ETF launches on July 18. Whale accumulation and bullish momentum are driving XRP’s rally, but overbought indicators suggest caution. Analysts anticipate a possible breakout above $3 as ETF demand fuels fresh liquidity flows.

XRP ETF Launch Set to Ignite Market Volatility

XRP has entered a renewed phase of volatility as the ProShares XRP ETF prepares to go live on July 18. The fund, listed under the U.S. Securities and Exchange Commission’s Form N-1A, aims to provide traditional investors exposure to XRP via a regulated investment product.

The filing confirms the fund will become effective under paragraph (b) of Rule 485 on July 18, 2025. This aligns with the opening of Crypto Week in Washington D.C., where lawmakers are expected to debate the Clarity Act and Anti-CBDC Surveillance State Act two crypto-related bills with potential implications for XRP’s legal clarity.

Despite the official approval for this specific fund, broader market sentiment remains skeptical. Data from Polymarket, a prediction platform, shows just a 9% chance of any Ripple ETF being approved by July 31, down 44% in recent weeks. The sharp drop reflects ongoing uncertainty around the broader regulatory environment, even as ProShares moves forward with its offering.

While ProShares leads with the first filing, Tuttle Capital and Volatility Shares have also submitted leveraged XRP ETF applications, according to regulatory tracking platforms.

Whales Accumulate as Short Sellers Exit

Large holders have ramped up accumulation. According to Santiment, the number of wallets holding more than 1 million XRP has hit a new all-time high of 2,743. These whale wallets now control 47.32 billion XRP tokens, suggesting growing confidence ahead of the ETF launch.

This uptick in accumulation comes alongside a sharp 26% weekly price rally. XRP gained 8% in the last 24 hours alone, based on CoinMarketCap data. As prices climbed to a daily high of $2.96, $30 million worth of XRP short positions were liquidated indicating that sellers were caught off guard.

The data points to increasing market dominance by bullish traders, particularly those anticipating post-ETF inflows.

Momentum Indicators Signal Caution Despite Bullish Structure

Despite bullish fundamentals, technical indicators show potential exhaustion in the short term.

XRP’s daily relative strength index (RSI) stands at 80.05, well into overbought territory. Historically, this level suggests a likely pullback or sideways action. However, in sustained rallies, RSI levels can remain overbought for days.

The moving average convergence divergence (MACD) line remains well above the signal line, supported by widening histogram bars. This indicates strengthening bullish momentum, despite the overheated RSI.

Balance of Power (BoP) remains high at 0.38, reinforcing that bulls are still in control of the trend.

Price Targets and Resistance Ahead of ETF Go-Live

XRP currently trades near $2.79, riding the upper Bollinger Band and far above the 20-day simple moving average at $2.29. The expanded volatility band suggests that a parabolic move may be underway.

The $3 psychological level now acts as the next test. If bulls can push through, short-term upside targets range between $3.20 and $3.50. However, traders should remain cautious as extreme price deviation from the mean often leads to corrections.

John Squire commented on X, “The $XRP takeover has begun,” referencing the growing number of asset managers joining the ETF race. “First they ignored it… now they’re lining up for ETF filings like it’s Gold Rush 2.0.”

Institutional Interest Grows, Sharplink Profits From XRP ETF Bet

Sharplink Gaming has also emerged as a key corporate investor. According to Coinvo, the firm’s $425 million XRP investment in May has now yielded $67 million in unrealized gains. The move underscores how institutional bets on XRP have begun to pay off ahead of the ETF decision.

This development highlights growing institutional conviction in XRP’s future, particularly amid ongoing regulatory discussions in the United States.

With ETF approval secured and market positioning clearly bullish, XRP is entering one of its most critical trading windows in years. Whether this momentum can sustain above $3—or triggers a sharp reversal—may hinge on investor reaction once the ProShares ETF officially begins trading on July 18.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.