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3 Reasons Why XRP Price is Ready to Rise
XRP is emitting strong technical and on-chain signals, indicating the potential for a significant bullish phase in the future. According to the analysis, the breakout of a multi-year triangle pattern in November 2024 has set a bullish target for XRP at $12.60. This long-term breakout aligns with several current factors supporting the bullish momentum. Technical Indicators Indicate Continued Breakthrough XRP has formed a cup-and-handle pattern on the daily chart since January, with the upper boundary at $3.40 and the lower point at $1.6135. The handle phase is currently showing an inverted head-and-shoulders pattern, and the price is sitting above the 50-day and 100-day EMA. Traders are closely watching the resistance level of $3.65, as breaking through this level could pave the way for $5 and beyond.
Expand XRP Ledger and Stablecoin Growth The total value locked in the XRP Ledger increased by 16% over the past month, reaching $85 million. Stablecoin activity also rose, with total holdings exceeding $167 million. Ripple USD (RLUSD) leads this segment, and by 2025, its supply is expected to reach $642 million. Ripple is believed to drive this development by integrating Hidden Road transactions into the ledger and using the acquisition of Rail to strengthen its stablecoin strategy. The Approval of ETFs May Attract Investment Capital from Institutions Market participants are also hoping that the Securities and Exchange Commission (SEC) may approve several spot XRP exchange-traded funds. Under the leadership of Chairman Paul Atkins, a cryptocurrency advocate, this regulatory body is reviewing a number of applications. XRP ETFs with leverage are currently managing millions in assets at ProShares and Teucrium, leading to even higher demand for spot ETFs. Recent Price Volatility Indicates Bullish Momentum According to data from CoinMarketCap, XRP has increased by 11.26% in the past week and is currently trading at $3.28. This bullish trend started on August 8, when the price surged above $3.20 after rising from $2.94. Since then, XRP has traded above $3.10 despite minor corrections. Trading volume also increased by 10.15% to $9.16 billion, with market capitalization rising by 4.55% to $194.64 billion, indicating strong market interest. The multi-year breakthrough target has been validated, and the increasingly developed technical structure and network foundation are creating a strong argument to justify a higher XRP price. A decisive move above $3.65 will confirm the next bullish phase.