The XRP price is slowly forming two bullish patterns, indicating more gains in the next few weeks. Ripple was trading at $2.15 on Monday morning as the recent continuation phase gained steam. So, is the XRP token about to surge?
XRP price analysis: a rebound could be coming
Ripple price surprised many analysts and investors when it went parabolic following Donald Trump’s victory. It surged from a low of $0.4948 to $2.8 within a few weeks, which helped it become the best-performing large-cap token.
XRP price has now lost momentum and moved into a technical bear market after falling 25% from the highest level this year. However, there are signs that the coin will rebound in the next few days or weeks, possibly as the January Effect takes shape.
Ripple has remained above the 50-day and 100-day Exponential Moving Averages (EMA), a sign that it is still in an uptrend. Most importantly, it has formed a falling wedge pattern, which is made up of two descending and converging trendlines.
XRP is also forming a bullish pennant chart pattern, which is made up of a vertical line and a symmetrical triangle. This triangle is now nearing its confluence level, pointing to a potential bullish breakout in the next few days.
The coin has also remained slightly above the lower side of the Schiff Pitchfork tool. It has also found support at the weak, stop & reverse point of the Murrey Math Lines tool.
Therefore, a bullish breakout will push it to the extreme overshoot level of $2.7, a few points below the year-to-date high of $2.90. This price target is about 30% above the current level. On the flip side, a drop below the strong pivot reverse point at $1.9530 will invalidate the bullish view.
Read more: XRP Price Prediction: Here’s Why Ripple May Enter Beast Mode
Potential catalysts for Ripple price
There are a few potential fundamental catalysts for the XRP price in 2025. First, there are odds that the Ripple USD (RLUSD) stablecoin will continue to gain traction among developers and users. It has already been added to several platforms like Uphold, CoinMena, and MoonPay. As such, entering more mainstream platforms like Coinbase and Binance will be a big deal.
Second, the XRP Ledger, the company’s alternative to Ethereum and Solana, may go mainstream during the year. For example, it may attract meme coin developers, which has made Solana one of the biggest blockchain networks in the industry.
Third, there are rising odds that the Securities and Exchange Commission (SEC) will approve an XRP ETF in 2025. A small Polymarket poll with just $5,400 puts the odds of approval by July 31 at 57%. Such a move would likely increase inflows, demand, and hype for the coin and its price.
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