- XRP’s breakout hints at bullish momentum, but resistance at $2.63-$2.65 remains key.
- A 2,300% surge to $44 is possible if XRP mirrors its 2017 Wave 3 rally.
- SEC’s evolving stance may boost XRP’s ETF approval chances and market accessibility.
XRP’s price action has sparked speculation among traders, with analysts weighing in on possible breakout scenarios. According to EGRAG CRYPTO, XRP’s movement within a key price channel suggests two possible trajectories one targeting $7.5 and another projecting a 2,300% surge to $44.
The token has broken above a significant technical channel, leading analysts to believe a strong momentum shift is underway. However, XRP remains below critical resistance, and recent price trends indicate mixed signals in the short term.
XRP Breaks Out of White Channel, Signaling Bullish Potential
Technical analysis shows that XRP has broken out of a white channel and is consolidating above it. EGRAG CRYPTO views this as a bullish signal, particularly on the monthly timeframe. This breakout suggests a measured move toward $7.5 if historical price action holds. The key indicator to watch is whether XRP sustains its position above this channel, as a failure to do so could weaken bullish momentum.
#XRP – The Channel is Telling a Story ($7.5 or a Historic Pump to $44!)
— EGRAG CRYPTO (@egragcrypto) February 23, 2025
⚪️General Rule of Thump in TA
In technical analysis, it's essential to ignore the noise and focus on what the chart is actually showing. 📊
Think of charts like an ECG (electrocardiogram)—a doctor doesn’t… pic.twitter.com/GcRoumLAq0
EGRAG CRYPTO also compares XRP’s current trajectory to its 2017 price movement. If the token mirrors its explosive Wave 3 rally from that cycle, it could surge 2,300% after confirming support above the white channel. This projection would push XRP toward the $44 mark, marking a historic price increase.
XRP Faces Key Resistance Levels Amid Bearish Signals
Despite the breakout, XRP faces short-term resistance. According to EGRAG CRYPTO, the price must close above the $2.63 to $2.65 range to confirm a strong upward trend. XRP currently trades at $2.49, with a 24-hour trading volume of $2.87 billion.
#XRP – Are We Ready for a Double Bottom Formation, or Is It a Fake-Out? 🤔
— EGRAG CRYPTO (@egragcrypto) February 24, 2025
I’d love to hear your thoughts! To negate this bearish movement, #XRP needs to close above the $2.63 to $2.65 range.#XRPFamily! Together, we rise! 💪🌟 pic.twitter.com/j797Co9KP7
The token has declined by 3.77% in the past day and 6.92% over the last week. Its market capitalization stands at $144.17 billion, with a circulating supply of 58 billion XRP.
Technical indicators show mixed momentum. The Relative Strength Index (RSI) is at 42.95, suggesting bearish sentiment but not reaching oversold conditions. Additionally, the MACD line remains below the signal line, indicating continued downward momentum. The histogram in negative territory reinforces the short-term bearish trend.
Regulatory Developments and Potential XRP ETF Approval
On the regulatory front, optimism is rising as the U.S. Securities and Exchange Commission (SEC) takes a more flexible approach under its new leadership. Several lawsuits against crypto firms have been paused or dismissed, fueling speculation that Ripple’s legal battle could see a resolution soon.
Meanwhile, Grayscale has submitted an application for an XRP exchange-traded fund (ETF), which is now under SEC review. The proposal’s publication in the Federal Register has initiated a public comment period, after which the SEC will make a final decision. If approved, the ETF could significantly enhance XRP’s market liquidity and accessibility by allowing institutional and retail investors to trade it on regulated exchanges.
