Key Insights
- XRP price could be ripe for a strong rebound after forming numerous bullish chart patterns.
- The recently launched XRPR ETF has gained over $71 million in assets in just a week.
- Ripple Labs is working on a major upgrade to boost its market share among institutions.
XRP price has dived and moved into a deep bear market this month. The token fell by 26% from the year-to-date high.
Still, the coin faces numerous catalysts that will push it to a record high soon. This includes the ongoing demand for its recently-launched XRP ETF, bullish technicals, and upcoming upgrades.
XRP Price Technicals Suggest a Rebound to All-Time High is Coming
The daily timeframe chart shows that the Ripple price has plunged in the past few weeks. This performance has happened amid the ongoing crypto market crash that has pushed more coins downwards.
However, several bullish chart patterns point to a strong breakout in the near term as several fundamentals align. First, the XRP price has formed a double-bottom pattern at $2.7082 and a neckline at $3.1715.
A double-bottom is one of technical analysis’s most common bullish reversal patterns. Second, the Ripple price is forming a descending channel. This pattern has been connecting the upper and lower bounds since July.
This channel plays a key role in forming a bullish flag pattern. It also shapes the handle section of the cup-and-handle formation. These two patterns usually lead to a strong bullish breakout.
Third, a closer look shows that the XRP price is in the second phase of the Elliot Wave pattern. This phase is usually a pullback that retraces the initial jump between 50% and 61.8%. It is followed by the third Elliot Wave, generally the longest and bullish.
Finally, the coin has remained above the 200-day Exponential Moving Average (EMA), which has provided it with robust support. These patterns suggest a potential rebound in Ripple’s price. It could reach the all-time high of $3.65.
If momentum continues, prices may overshoot to $4.33 based on the Murrey Math Lines tool. A move above that level will raise the possibility of it hitting the psychological level at $5.
XRPR ETF is Nearing $100 Asset Milestone
One of the key catalysts for the XRP price is that demand from American investors is in a strong uptrend. For example, the recently launched XRPR ETF has continued to gain assets in the past few days following its launch.
It now has over $71 Million in assets, a substantial amount for a fund launched on Thursday last week. XRPR’s growth reflects strong demand from American investors. They’re willing to pay a 0.75% expense ratio to gain exposure to XRP.
XRPR’s growth signals strong investor interest in crypto ETFs. Upcoming ETFs from Franklin Templeton and Invesco are expected to benefit from this trend. Their lower fees could help attract substantial assets.
Experts, including Crypto.com’s CEO, expect strong demand for XRP ETFs. They estimate at least $8 billion in inflows during the first year. Ripple price has more bullish catalysts.
For example, the developers are working on a major upgrade as described in a recent blog post. The next upgrade will include features like a multi-purpose token (MPT). It’s a native lending protocol to power low-cost credit and zero-knowledge proofs.
The update aims to boost Sei’s competitiveness. It targets stronger performance against layer-1 networks like Ethereum, Solana, and BSC Chain. At the same time, the developers noted that they were working on an upgrade for the XRPL EVM Sidechain.
The new v9 will introduce the migration from Evmos to the Cosmos network. XRP price does well whenever upgrades are meant to make it more competitive.
XRP has formed several bullish chart patterns on daily timeframes. These technical signals point to potential upward movement. Strong fundamentals are backing the trend. ETF inflows, rising chances of spot ETF approval, and upcoming upgrades add support.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
