XRP Price Prediction: Robust Fundamentals Could Secure Fresh XRP Rally towards $3

XRP Price Prediction: Robust Fundamentals Could Secure Fresh XRP Rally towards $3

Key Notes

Key Notes:

The rising demand for XRP by institutional investors will fuel bullish sentiment in the near future.The imminent closure of the Ripple vs SEC lawsuit under the Donald Trump administration will trigger bullish sentiment.

As the altcoin industry leads Bitcoin BTC $96 656 24h volatility: 1.2% Market cap: $1.92 T Vol. 24h: $18.59 B price in a bullish outlook, Ripple Labs’ XRP XRP $2.58 24h volatility: 1.5% Market cap: $149.51 B Vol. 24h: $2.20 B has signaled the onset of the thrilling phase of the 2024/2025 bull cycle. The large-cap altcoin, with a fully diluted valuation of about $269 billion and a 24-hour average trading volume of about $5 billion, surged over 10 percent in the past 24 hours to trade about $2.68 on Friday, February 14, during the mid-London session.

Having rebounded from the support level of around $2.3 in the past week, the XRP price is now retesting the resistance level of around $2.72. Since the beginning of December 2024, XRP price has been consolidating in a rising bullish flag, following a notable breakout from a six-year triangular consolidation.

From a technical analysis standpoint, the XRP price is in the second wave in the Elliott wave theory. As a result, a successful close above the resistance range between $2.72 and $2.88 will propel the XRP price toward the upper border of the rising bullish flag.

According to crypto analyst Ali Martinez, XRP price is well positioned to rally towards a new all-time high (ATH) if the support level around $2.3 holds in the near future.

As long as $XRP holds steady above $2.30, it could see a move toward $3! pic.twitter.com/GLRcpHWTGr

— Ali (@ali_charts) February 13, 2025

Nonetheless, one cannot fully rule out a potential bearish sentiment of a possible head and shoulders (H&S) pattern, coupled with a bearish divergence of the Relative Strength Index (RSI) in the daily time frame. In case of further bearish sentiment, XRP price will find a solid support level around $1.26, which coincides with the 2.618 daily Fibonacci Extension.

The notable rise of XRP in the past two quarters is heavily bolstered by robust fundamentals both from Ripple and the favorable regulatory environment. Ripple Labs has made notable developments on the XRPL network to enhance its interoperable DeFi capabilities.

For instance, the Ripple USD (RLUSD) has grown to a market cap of over $108 million and a 24-hour average trading volume of about $137 million. The blockchain payment company has partnered with several web3 companies, including Revolut, to enable the mainstream adoption of RLUSD.

Meanwhile, Ripple CEO Brad Garlinghouse reiterated that the approval of spot XRP ETF is imminent in the United States. On Thursday, the US SEC acknowledged the 19b-4 filing of Grayscale XRP Trust, which is intended to be listed on NYSE Arca.

The leadership change of major US financial regulators agencies under the Donald Trump administration has helped attract more institutional investors to XRP. Earlier this week, Crypto.com announced that XRP will be listed on the exchange by February 14, 2025.

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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