Key Insights
- XRP price could surge soon after forming several highly bullish chart patterns on the daily chart.
- XXRP and XRPR ETFs have had substantial inflows in the past few weeks.
- The most likely scenario is where the Ripple price stages a strong bullish breakout in the near term.
The XRP price has remained in a consolidation phase in the past few days. This performance will likely end soon as the Ripple price has formed numerous bullish chart patterns on the daily chart. It also has several fundamentals that could push it higher in the coming weeks.
XRP Price Technical Analysis Points to a Surge Soon
The daily timeframe chart indicates that the XRP price has been in a tight range over the past few weeks, despite the Bitcoin price reaching a record high on Sunday. It has now stalled at the important support level at $3, which is much lower than the year-to-date high of $3.6600.
On the positive side, the coin has formed numerous highly bullish chart patterns that will push it higher in the coming weeks.
One of the clearest patterns is the falling wedge. It started forming when XRP reached an all-time high of $3.66 in July. This pattern consists of two descending and converging trendlines that are approaching their peak.
The coin has also formed a bullish pennant pattern, which closely resembles a hoisted flag. This pattern consists of a vertical line and a triangle-like pattern, with a bullish breakout occurring when the two lines converge.
Most importantly, the coin has remained above the 100-day Exponential Moving Average (EMA) during the ongoing pullback. It is also forming the handle section of the cup-and-handle pattern, which is a common bullish continuation sign in technical analysis.
Therefore, the XRP price could witness a strong bullish breakout, initially to the upper side of the cup at $3.40, and then to the year-to-date high of $3.6600.
A surge above that level could indicate more gains. XRP price could soar to an extreme overshoot level of the Murrey Math Lines at $4.30, followed by the psychological level at $5.
The bullish XRP price forecast could become invalid if it plunges below the Strong Pivot Reverse point of the Murrey Math Lines at $2.7345. This level coincides with where XRP formed a triple bottom pattern.
XXRP and XRPR ETF Inflows are Soaring
The primary catalyst for the XRP price could be the growing interest of American institutional investors in cryptocurrency ETFs.
Data compiled by SoSoValue shows that the spot Bitcoin ETFs have had cumulative inflows of over $50 billion since their inception in January 2024.
Similarly, spot Ethereum ETFs have had over $14 billion in inflows since last year. Bitcoin and Ethereum ETFs now hold over 5% of their circulating market capitalization.
The same trend is happening, albeit at a slower pace, with the XRP token. Data shows that Teucrium 2x XRP ETF (XXRP) has accumulated over $440 million in assets since its inception in August this year.
The XXRP ETF, which has an expense ratio of 1.89%, is unique as it seeks double the daily return of the XRP price. Historically, these ETFs tend to have fewer assets under management than other mainstream funds.
The recently launched REX-Osprey XRP ETF (XRPR) has amassed over $87 million in assets under management in under three weeks.
These funds are sending a signal that American investors are interested in the XRP token. It is also a sign that the spot XRP ETFs will receive substantially higher assets. Some analysts even predict that ETF inflows could reach $8 billion in the first year.
Companies will file spot XRP ETFs with a larger brand presence than REX, such as Franklin Templeton, Fidelity, and Invesco. Besides, they will have a lower expense ratio than the existing ones, which will help attract cost-conscious American investors.
XRP ETFs will also benefit from its ongoing fundamentals, including the growing market share of the Ripple USD (RLUSD) stablecoin. The RLUSD is approaching the $800 million market capitalization mark. XRP Ledger has also become one of the biggest chains in the real-world asset (RWA) tokenization industry.
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.
