Key Notes

Key Notes:

The highly anticipated altseason in 2025 will propel XRP price toward a midterm target range of between $5 and $8.The imminent approval of spot XRP ETFs in the United States will improve mainstream adoption by institutional investors.

After rebounding from the support range level between $2.27 and $2.38 in the past three weeks, XRP price XRP $2.58 24h volatility: 1.7% Market cap: $149.55 B Vol. 24h: $2.25 B has been attempting to convert the resistance level around $2.7 to a support level in the past few days. The Ripple Labs-backed large-cap altcoin, with a fully diluted valuation of about $258 billion and a 24-hour average traded volume of around $4.2 billion, has regained about 7% in the past two weeks to trade around $2.58 on Wednesday, February 19, during the early New York session.

By now, it is evident that XRP price is in a macro bullish outlook after closing November, December, and January in green candles. Furthermore, the monthly Relative Strength Index (RSI) has remained above the 74% level since November 2024, for the first time since January 2018.

From a technical analysis standpoint, crypto analyst alias Dark Defender thinks that XRP price, in the weekly time frame, is almost concluding the second wave of the Elliott wave theory. Through an ABC correction, the crypto analyst expects XRP price to find a solid support range between $2.44 and $1.99 before kickstarting the third wave, which will coincide with the thrilling phase of the 2025 bull cycle.

Upon a successful bullish rebound, XRP price will be aiming for the next target range between $5.8 and $8 in the subsequent weeks.

$XRP is proceeding based on our lines.

After Wave 2 & XRP will continue with the 3rd – 5th Waves on the Daily Chart.

Supports: $2.4467, $1.9996Resistances: $2.6052, $3.3999, $5.8563, $8+

I feel like we are in November.

Remember, Remember. pic.twitter.com/pxtThjYqM6

— Dark Defender (@DefendDark) February 19, 2025

According to on-chain data analysis from Santiment, crypto whale investors, with an account balance of between 10 million and 100 million coins, have purchased 150 million XRP units in the last two days. As a result, the crypto whales in this category control about 6.9 billion XRP coins.

Whales bought 150 million $XRP in the last 48 hours! pic.twitter.com/lB8MdhaHMV

— Ali (@ali_charts) February 19, 2025

The macro bullish outlook for XRP in the past few months has been bolstered by the notable shift in crypto regulatory landscapes in the United States and the renewed demand from institutional investors. As Coinspeaker explained earlier today, the Ripple vs SEC case, which has been a major source of headwinds for XRP since 2020, will likely be dropped soon.

Moreover, the US SEC has aggressively scaled back its cryptocurrency enforcement, with the ongoing case against Binance Holdings and Coinbase Global Inc (NASDAQ: COIN) already put on hold. Earlier today, US President Donald Trump shared Ripple and XRP posts on his Truth social platform, thus sparking the end of the ongoing lawsuit.

Meanwhile, Ripple has made deliberate efforts to develop the XRPL chain to compete with other layer-one chains, led by Ethereum (ETH) and Solana (SOL). With over 5 million on-chain users, the XRPL network now has a reliable stablecoin dubbed Ripple USD (RLUSD) to enhance liquidity.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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