Peter Smith
XRP has been capturing significant attention in the crypto market following its impressive summer rally. After cooling off from recent highs, the token is now forming what many analysts see as a bullish continuation pattern. Combined with growing speculation around a potential spot ETF and Ripple's expanding institutional partnerships, XRP appears to be positioning itself for another significant move higher.
XRP Price Consolidates After Strong Rally
XRP is holding up well after its massive summer run, where it jumped over 66% and hit around $3.40. The price has settled down since then, but what's interesting is that it's forming what looks like a bullish flag pattern - a technical setup that often signals another leg up is coming.
Popular trader @RippleXrpie pointed this out recently, sharing a chart that connects XRP's technical picture with the growing excitement about a potential spot ETF. His post said: "🚨 #XRP Chart Pattern Targets $5 as Spot ETF Reality Draws Closer!" This shows how both the chart patterns and the broader market story are getting investors excited.
Key Levels for XRP Price
Here are the important price levels to watch:
- Support levels: $2.68 (100-day average) and $2.48 (200-day average)
- Major support: $2.20
- Resistance: $3.00, then $3.40
- Bullish target: $5.00 (about 77% higher than current price)
Right now, XRP is trading around $2.81 and staying above its long-term moving averages. The momentum indicator (RSI) is at 45, which is neutral territory, meaning there's plenty of room for the price to move higher if buyers step in.
XRP Price Outlook Toward $5
The chart suggests that if XRP can push above $3.00 and then break through $3.40 again, we could see it head toward $5.00. This target makes sense based on the bullish flag pattern and matches up with how far prices typically move after these setups.
Beyond the technical picture, there's real excitement building around the possibility of an XRP spot ETF, plus Ripple keeps making progress with banks and payment companies. These fundamental drivers give extra support to the bullish case.
Peter Smith
