Key Insights:
- XRP price reclaimed the $2.3 support as the broader crypto market recovers today.
- Canary Capital fuels optimism over an XRP ETF launch soon.
- Expert warns of potential Ripple coin dip to $1.9 if a key support fails.
XRP price surged more than 4% today and reclaimed the $2.3 support, but it appears that the experts are still cautious about the potential future movement of the coin. Notably, the surge could be attributed to a flurry of factors like the broader crypto market recovery, XRP ETF approval optimism, and others.
Besides, the Ripple coin has recently witnessed a massive selling pressure, as the broader crypto market crashed. This might have also allowed traders to enter the market at a discounted price, which might have helped in the latest recovery of the asset.
However, despite that, a renowned expert said that XRP price has found a major support at $1.9. This comment has fueled discussions, indicating a potential dip again if the bears continue to dominate the bulls.
On the flip side, some experts have highlighted the much-awaited launch of Ripple ETF, which might set the stage for the upcoming movement of the coin.
XRP Price Regains Momentum as Crypto Market Stays in Green
XRP price added over 4% and traded at $2.31 at the time of writing, recovering from the 24-hour low of $2.16. Notably, the crypto has touched a daily high of $2.37, indicating a renewed interest of market participants towards the asset.
In addition, the trading volume of the asset also soared more than 16% to $6 billion, suggesting increased trading activity in the market. The derivatives data also reflects the soaring confidence of traders, hinting at a continuing rally in the asset.
For context, the XRP Futures Open Interest rose more than 2% to $3.40 billion. Simultaneously, the relative strength index (RSI) of the crypto was at 42, suggesting more upside potential for Ripple coin.
Meanwhile, the surge could be primarily attributed to the broader crypto market recovery. At the time of writing, the global crypto market cap rose more than 1% to $3.45 trillion, reflecting renewed bets from market participants.
On the other hand, the XRP ETF approval optimism has further bolstered market sentiment. A flurry of big players has hinted at a potential Ripple ETF launch later this month, which has caught the eyes of traders.
Can Ripple Price Crash to $1.9 Despite XRP ETF Optimism?
Despite the surge in XRP price, a renowned analyst has warned of a potential retreat. For context, in a recent X post, expert Ali Martinez noted that a pullback might be looming, with his chart indicating a potential drop to $1.90-$2 range.
However, Martinez highlighted $2.3 as a crucial support zone, losing which could trigger selling pressure. Notably, this comes amid the soaring optimism over a potential XRP ETF launch in the US market this month.
For context, Canary Capital recently sparked hopes, saying that “Get ready: Canary XRP ETF (XRPC) is coming soon.” ETF expert Nate Geraci further fuels the optimism, predicting a potential launch as early as late next week.
Geraci cites a window of “sometime in the next two weeks” for the debut of the first spot XRP ETFs. However, the launch doesn’t guarantee an immediate impact on XRP price.
For context, the SOL price has continued to struggle despite the recent launch of the Solana ETF. Having said that, investors should also consider the warning of a potential pullback to $1.9 while placing their bets amid the volatile market scenario.
Source: https://www.thecoinrepublic.com/2025/11/08/xrp-price-regains-2-3-support-but-expert-hints-at-crash-to-1-9/
