XRP Heading Towards $2.50? Technical Signals Turn Green.
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XRP is experiencing a real resurgence. After months of uncertainty, Ripple’s token is trading above $2.20, driven by a conjunction of favorable factors. Technical indicators have turned green, whales are accumulating massively, and the prospects of a spot ETF are becoming clearer. In a context where the crypto market is regaining strength, XRP seems ready to reach new highs.
In brief
- XRP remains above the 50 and 100 EMA, confirming its upward trend.
- Whales have purchased 900 million XRP in one month.
- The XRP spot ETF now has an 85% chance of approval.
The technical structure fuels momentum
Technical signals are piling up in favor of a continued bullish run for the XRP price. The price remains firmly anchored above the 50 and 100-day exponential moving averages (EMAs), indicating a sustained bullish trend. The Bollinger Bands show compression, often a prelude to increased volatility. The MACD has been in positive territory since April 12, reinforcing the bullish sentiment.
#XRP’s Bollinger Bands are tightening! We all know what that means…
STEPH IS CRYPTO
Chart patterns such as a descending wedge and an inverse “head and shoulders” are emerging, suggesting a possible acceleration to higher levels. Immediate targets are at $2.50 and $2.80, with a major target at $3.40, corresponding to the year’s high.
XRP whales charge, pressure builds
The activity of major investors, or “whales“, is particularly notable. Over the past month, approximately 900 million XRP have been accumulated by wallets holding between 10 and 100 million tokens, representing a value close to $2 billion. This massive accumulation behavior is often observed before significant bullish moves.
This sustained buying pressure reduces the likelihood of a drop below $2.00, thereby consolidating the current support. The growing interest of whales in XRP reflects renewed confidence in the token’s potential, especially in anticipation of major upcoming events.
XRP ETF approaching and institutional ambitions
Optimism about the approval of a spot ETF for XRP is rising. Since Paul Atkins was appointed head of the SEC, approval chances have increased from 65% to 85% in two months, according to Bloomberg analysts and Polymarket bettors. This outlook attracts institutional investors’ attention, anticipating an influx of capital into XRP.
Additionally, Ripple USD (RLUSD), Ripple’s stablecoin, is experiencing notable growth, with a market cap exceeding $330 million. Standard Chartered foresees a scenario where XRP could sextuple its current value, reaching a market cap of over $600 billion. An ETF approval could bring up to $8 billion in inflows within the first year.
- RLUSD reaches a market cap of $330 million;
- XRP could capture 5% of the stablecoin market;
- An XRP ETF would attract $8 billion in the first year;
- Long-term target: $600 billion market cap.
Between favorable technical signals, strategic accumulation by whales, and encouraging regulatory prospects, XRP seems ready to reach new heights. This renewed interest in XRP fits into a broader context of crypto market dynamism, illustrated by Bitcoin’s recent surpassing of $97,000, bringing it closer to the symbolic $100,000 mark.
