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XRP Jumps 5% After Trump Signs Bill Ending Shutdown

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XRP Jumps 5% After Trump Signs Bill Ending Shutdown

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The XRP price pumped 5% over the past 24 hours to trade at $2.49 as of 2:47 a.m. EST as trading volume surged 55% to $5.5 billion.

The surge coincided with a broader crypto market uptick, which saw the space rise over 1% to a $3.60 trillion market capitalization.

That comes after US President Donald Trump signed off on a funding bill passed by the House of Representatives on Wednesday, which brought an end to the record 43-day government shutdown.

Healthcare funding was one of the special points that halted the bill, with Democrats pushing to increase support, while Republicans sought to address the issue after the bill had passed.

However, after signing the bill, Trump indicated that he may be willing to work with Democrats to iron out these issues. In the past, the resumption of the US government has led to major rallies in financial markets.

Nasdaq Certifies Canary Capital’s Spot XRP ETF

In a related development, Nasdaq has certified the first US spot XRP exchange-traded fund (ETF), which will launch at the US market open on Thursday.

The Canary Capital spot XRP ETF (XRPC) will go live at 5:30 p.m. ET, after Nasdaq cleared the product for launch.

The approval finalizes the first listed US XRP ETF and marks one of the fastest accelerations through the SEC’s 8-A automatic effectiveness process.

The ETF will custody XRP through Gemini Trust Company and BitGo Trust Company.

Such a move could ignite a rally for the price of XRP, as it opens the crypto up to a new array of investors.

XRP Price Poised For A Breakout

After consolidating within the $2.0 range from April to July, the XRP price saw a massive push from bulls, surging to around the $3.64 resistance level.

That resistance the caused the Ripple token price to drop, as sellers started taking profits after the parabolic rally.

After touching the $2.16 support zone, XRP reversed to the current level on the daily chart. XRP is now consolidating around $2.45.

Despite the jump, XRP still trades below both the 50-day Simple Moving Average (SMA) ($2.57) and the 200-day SMA ($2.63), levels now acting as strong resistance zones.

Meanwhile, the Relative Strength Index (RSI) is recovering from below the 50-midline level, currently at 51 and rising, indicating that buying pressure is picking up.

The Moving Average Convergence Divergence (MACD) has also turned positive, with the blue MACD line crossing above the orange signal line, as momentum picks up.

XRP/USD Chart Analysis Source: GeckoTerminal

Ripple Token Price Prediction: Bulls Eye Prices Above $3

XRP is currently trading around $2.49, after a 5% daily gain as it tests resistance.

The pattern, mainly bullish, suggests a potential breakout if the Ripple token’s momentum strengthens above $2.58–$2.63, aligning with the 50-day and 200-day SMAs.

A successful breakout could see the crypto target $2.78 (Fib 0.382) and potentially $3.23 (Fib 0.236), signaling a mid-term recovery toward the $3.60 zone.

However, failure to hold above $2.45 may see the price of XRP retest $2.28 or even $1.92, the Fibonacci 0.786 and 1.0 levels respectively. Ali Martinez supports this bearish outlook, and predicted the price of the Ripple token could find support around $2.

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