XRP Price Poised for Gains Amid ETF Filings and Strategic Partnerships

XRP’s price is expected to rise as more ETF filings and partnerships gather momentum.

The price of XRP is looking promising due to developments in the industry landscape. Ripple’s new collaboration with a currency exchange company in Portugal called Unicâmbio is geared towards enhancing its border payment network connecting Portugal and Brazil. This advancement boosts the position of the XRP in money transfers. Boosts its popularity and need in the market.

The race to launch an XRP Exchange Traded Fund (ETF) in the United States is intensifying as CoinShares has submitted an application to Nasdaq following filings by CBOE BZX Exchange on behalf of asset managers like Bitwise, 21Shares, and Canary Capital. If approved an XRP ETF could pave the way for increased participation from investors enhancing liquidity and bolstering the credibility of the asset.

There is a sign in the data indicating an increase in XRP holders and sustained activity levels compared to last year’s average figures. The market analytics hint at a decrease in selling pressure which might support a price uptrend.

At the moment XRP is priced at $2.45 and faces a resistance level around $2.52 as it may test the point reached on the 4th, of February which was approximately $2.78. The indicators are pointing towards a reduction in selling pressure which could lead to an increase in market activity.

There is still some uncertainty around regulations concerning Ripple due to the appeal with the U.S. Securities and Exchange Commission. However, the increasing interest from institutions and market activity suggests an outlook for XRP.