Ripple’s XRP coin has gained 9% over the past two weeks, trading around $2.19 as of Saturday, supported by rising institutional interest. The major catalyst fueling this momentum is CME Group’s upcoming launch of XRP futures on May 19.
These cash-settled contracts—sized at 2,500 and 50,000 XRP—will settle against the CME CF XRP-Dollar Reference Rate.
According to Giovanni Vicioso, Global Head of Crypto Products at CME Group, growing demand from institutional players prompted this addition. Ripple CEO Brad Garlinghouse hailed the move as a “milestone” for Ripple’s adoption.
Analysts forecast that the futures launch could bring new liquidity and price stability, positioning Ripple alongside Bitcoin and Ethereum within regulated markets.
Key Highlights:
- CME XRP futures launch scheduled for May 19.
- Two contract sizes: 2,500 XRP and 50,000 XRP.
- Analysts project price targets toward $6.50 if momentum holds.
Brazil’s XRP ETF Boosts Global Exposure
In another bullish development, Brazil’s B3 exchange debuted XRPH11—the world’s first Ripple-focused ETF. Managed by Hashdex, the fund allocates 95% of its assets directly or indirectly into XRP, tracking the Nasdaq XRP Reference Price Index.
While U.S.-based XRP ETF applications remain stalled amid regulatory hurdles, Brazil’s launch marks a breakthrough moment. It offers investors outside the United States regulated access to Ripple, reinforcing Ripple’s global strategy.
Key Highlights:
- Brazil launches XRPH11, tracking Nasdaq XRP Index.
- 95% of assets allocated to XRP.
- Expands XRP’s institutional footprint beyond the U.S.
XRP Technical Setup: Breakout Eyes $2.30 and Beyond
Technically, XRP is consolidating around $2.19–$2.21, respecting an ascending trendline that has underpinned its rally since mid-April. The 50 EMA at $2.18 continues to act as dynamic support, with buyers stepping in to defend pullbacks.
The immediate challenge lies at $2.30—historically a major resistance zone. A confirmed breakout above this level could open the door to $2.36 and $2.42 in the short term.
The MACD indicator is stabilizing, signaling consolidation rather than weakness, and setting the stage for a potential breakout.
Trade Setup:
- Buy breakout: Above $2.30
- Targets: $2.36 and $2.42
- Stop-loss: Below $2.17
For beginners, the strategy is straightforward: avoid buying inside the range and wait for either a clean breakout above $2.30 or a bounce from the ascending trendline.
Bottom Line
With a 9% bi-weekly gain, rising institutional support, and clearer regulatory frameworks emerging, XRP appears well-positioned for a potential breakout. Watch the $2.30 level closely—confirmation there could ignite the next leg higher.
Solana’s First L2? Solaxy Hits $31.77M as Presale Nears Milestone
While Bitcoin continues to dominate institutional headlines, innovation in the Solana ecosystem is quietly heating up—with one Layer-2 project leading the charge.
Solaxy (SOLX) is tackling Solana’s congestion problem by processing transactions off-chain and submitting them back to the mainnet. A built-in bridge with Ethereum enables multi-chain interoperability, reducing fees and boosting efficiency.
By bundling transactions before submission to Solana’s mainnet, Solaxy reduces load while maintaining network security. Its cross-chain bridge with Ethereum adds flexibility, allowing users to move assets seamlessly across ecosystems—positioning Solaxy as an infrastructure layer for multi-chain applications.
Presale Update
The project’s presale has now surpassed $31.77 million, edging closer to its $32.59 million target. With the next price adjustment approaching, SOLX is currently priced at $0.001706—up from the previous $0.0016 round.
Solaxy is audited by Coinsult and backed by over 60K followers on X and 11.5K Telegram subscribers. With momentum building, it remains one of the top-watched presale projects within the Solana ecosystem.
Solaxy is audited by Coinsult and backed by over 60K X followers and 11.5K Telegram subscribers. With momentum building, it’s one of the top-watched presale projects in Solana’s ecosystem.
The post XRP Price at $2.19 With 9% Bi-Weekly Gain: Is XRP Preparing for a Breakout as Regulatory Picture Clears? appeared first on Cryptonews.
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