The XRP price is near a key technical stage where analysts expect a major move if it breaks strong resistance after a long consolidation phase. Some believe it may be close to a cyclical bottom, while improving regulation and potential ETFs could drive significant institutional investment and future growth.
At the time of writing, XRP is trading at $1.12 with a 24-hour trading volume of $1.81 billion and a market capitalization of $69.67 billion. Despite the 3.94% loss over the last 24 hours, the XRP price structure and ETF growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XRP Ledger Stablecoin Market Reaches $907M With 84% RLUSD Share
XRP Price Enters Key Battlefield Phase on Macro Chart
According to the crypto analyst EGRAG CRYPTO, the XRP price is approaching a crucial stage on its two-month chart, where analysts have identified a massive ascending triangle accompanied by an A-B-C-D-E structure.
With waves A through D already completed, focus has shifted to the final E phase, which some believe could represent the last major consolidation before a broader macro expansion begins.
Historical patterns show the XRP price chart has often formed significant bottoms every 425 days, equivalent to seven candles on the two-month timeframe.
Based on that rhythm, analysts suggest the next candle could mark another bottoming phase for the XRP price. However, they emphasize that bullish targets remain inactive until key support levels and moving averages are reclaimed.
Source: EGRAG CRYPTO’s X Post
The important resistance level for the XRP price is in the $2.00-$2.10 region, which is expected to be the gateway to a breakout by the technical analysts.
The Fibonacci resistance targets start at the levels of $9.50 and $17.23, while the primary target on the macro level will remain at $13. On a larger scale, projections expect $26.30, with a possibility of reaching even $100.
XRP Institutional Demand Could Hit $8 Billion
The data from the crypto analyst Hailey LUNC XRP highlighted that Standard Chartered expects that XRP is well-positioned to capitalize on the coming wave of institutional appetite for cryptocurrencies, estimating that spot XRP ETFs can bring in up to $8 billion in funds.
However, the success of Standard Chartered’s forecast hinges on the CLARITY Act getting through the US regulations.
Source: Hailey LUNC XRP’s X Post
The bank has observed that stricter rules can attract institutions for investment in a regulated XRP ETF product.
The analysts have observed that the success of ETFs of Bitcoin and Ethereum is an indication of a huge demand for these investment tools, and XRP can follow the same path if the CLARITY Act is passed by lawmakers.
Also Read: XRP Price Tests Key Long-Term Support as Bulls Eye $3.50 Recovery Target
