XRP Surges to #3 Following ProShares ETF Approval — Can It Challenge Ethereum?

XRP recently climbed its way to third place among cryptocurrencies after ProShares' ETF approval. This unexpected rise has sparked curiosity about its potential to compete with Ethereum. Investors and enthusiasts alike are keen to see if XRP can continue its upward momentum and what this could mean for the market. Find out which coins are poised for growth.

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XRP Hovers Near $3 Amid Potential Breakout

Source: tradingview

XRP is trading in a range between $3.40 and $3.62, showing strong upward movement recently. In the last month, there's been a noticeable price increase of over 45%. The RSI indicates an overbought status, suggesting strong buying interest. The current price is slightly above the 100-day moving average, pointing to a positive trend. The closest resistance level stands at $3.41, while support is at $1.96. If XRP breaks the resistance, it could see a boost towards $4.14, marking a potential gain of over 40% from its lower range. The ongoing momentum hints at a promising future for XRP if it breaches these barriers.

ETH Price Surge: Ethereum on Possible Bullish Breakout

Source: tradingview

Ethereum has been on a rollercoaster lately. Its current price is between 2644.37 and a bit over 3167 dollars. It's been moving up impressively, seeing a monthly rise of over 36 percent. Short-term growth shows signs of a bullish trend, with the nearest hurdles at about 3364 and 3888 dollars. The price's jump above 3100 dollars suggests a strong recovery. Technical indicators reflect the coin's strength, but its relative strength index is high, which might hint at a brief pause. If current trends hold, Ethereum could potentially grow over 20 percent, making investors hopeful for further gains and reaching key resistance levels.

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Conclusion

XRP has made a significant move by climbing to the third position. The approval of ProShares ETF has boosted its standing. As XRP eyes further growth, the focus shifts to its ability to challenge Ethereum's position. Both XRP and Ethereum have unique strengths and use cases

Outset PR specializes in pinpointing key developments, formulating effective strategies, and synchronizing narratives with market timing. This approach guarantees tangible growth and substantial impact for web3 projects.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.