XRP Wakes Up From Its Slump With Eyes on $3 and a New ETF Catalyst

XRP is showing early signs of a bullish reversal. Momentum indicators are turning positive, and excitement is building ahead of the CanaryFunds XRP spot ETF launch on Nov. 13.

After days of tight consolidation and fading momentum, XRP (XRP-USD) is showing early signs of a bullish reversal. The token, which dipped into oversold territory earlier this week, is now finding buyers again, enough to reignite talk of a move toward the $3 level.

Indicators Hint at a Rebound

On the 4-hour chart, XRP bounced off support at $2.39 and is testing resistance near $2.53. Both the Money Flow Index (MFI) and the Relative Strength Index (RSI) suggest selling pressure is easing. The MFI sits near 30, a zone that often precedes fresh accumulation, while the RSI, now rising from 41, signals that bearish momentum is losing strength.

This shift in tone could mark the early stages of a trend reversal. If buying volume holds, traders see a path toward the upper end of the current range, with $2.72 acting as the next key resistance level.

ETF Approval Hopes Boost Sentiment

Optimism is also being driven by the CanaryFunds XRP spot ETF, now expected to debut on Nov. 13. The recent removal of the SEC’s delay amendment has lifted sentiment across the market and sparked renewed institutional interest.

As Crypto In America journalist Eleanor Terrett reported, “CanaryFunds has filed an updated S-1 for its XRP spot ETF, removing the ‘delaying amendment’ that stops a registration from going auto-effective and gives the SEC control over timing.”

This procedural change clears the way for the ETF to move forward without further SEC holdups. If the fund launches as planned, it could channel new capital into the market right as XRP shows early signs of technical recovery, which is a mix that traders say could finally help the token retest the $3 mark.

Momentum Builds across Timeframes

On the daily chart, the MACD has turned bullish, with the 12-day EMA crossing above the 20-day EMA and histogram bars turning green. The Chaikin Money Flow (CMF) is also trending upward, pointing to strengthening inflows.

At $2.50, XRP sits near a key Fibonacci level. A confirmed breakout above $2.72 could open a path toward $3.26, while failure to hold above $2.22 would risk another pullback. At the current moment, imomentum appears to be shifting in the bulls’ favor and after months of sideways trading, XRP may finally be ready to move again.