Ripple’s Wild Ride: XRP Price Prediction Points to a 1,500% Surge

XRP has experienced a rollercoaster ride in recent months, capturing the market’s attention with large price swings and major regulatory developments.

Regulatory Developments and Market Sentiment

On January 16, the token surged to a multi-year high of $3.39, fueled by strong market sentiment. However, the rally was short-lived. As of February 17, XRP has pulled back to $2.68, marking a 21% decline from its January peak.

Despite this pullback, XRP remains one of the top-performing assets in the top 100, delivering an impressive 145% return over the past 90 days. This outpaces heavyweights like Ethereum and Solana, both of which have lost value during the same period.

The election of President Donald Trump introduced a more crypto-friendly atmosphere in the U.S., with the Trump administration’s positive stance on digital assets boosting investor confidence. This, in turn, has contributed to the upward trajectory of crypto assets, including XRP.

XRP ETF Filing: A Major Turning Point

A major turning point came on February 13, when the U.S. Securities and Exchange Commission formally acknowledged a filing from the New York Stock Exchange and Grayscale Investments for a spot XRP exchange-traded fund.

The proposal outlines a plan to convert Grayscale’s existing $16.1 million XRP Trust into a fully tradable ETF, with Coinbase Custody Trust Company acting as the custodian and BNY Mellon handling administrative duties.

XRP ETF Approval: A Potential Catalyst

Grayscale isn’t the only firm pushing for an XRP ETF. The Chicago Board Options Exchange has also filed a 19b-4 application for Bitwise’s XRP ETF, with other firms also vying for approval.

Matt Hougan, Bitwise’s Chief Investment Officer, recently discussed the challenges and progress of XRP ETF applications. He noted that while previous filings have seen starts and stops, with some firms withdrawing their applications, the fact that multiple issuers are now refiling suggests that the SEC is at least open to considering these ETFs.

Bloomberg ETF analysts James Seyffart and Eric Balchunas have estimated a 65% probability of XRP ETF approval by the end of 2025.

XRP’s Make-or-Break Moment

XRP is at a make-or-break moment, approaching a resistance level that has defined its fate for years. Over the past two months, XRP has tested the $3.15 to $3.50 range, a zone that has consistently determined whether XRP breaks into a major rally or gets stuck in consolidation.

Beyond the short-term volatility, something even more significant is unfolding. XRP is nearing the completion of a rounding bottom pattern that has been forming since 2018, a structure that has taken nearly seven years to develop.

XRP Price Prediction: Could History Repeat Itself?

XRP’s 2017 bull run remains a key reference point, with several indicators suggesting that XRP is now mirroring the setup that led to its parabolic rise.

Egrag Crypto notes that XRP is currently positioned above the Bull Market Support Band (BMSB), a technical indicator used to determine whether an asset is in a bullish or bearish phase.

Egrag draws parallels to 2017 when XRP followed a nearly identical pattern. He notes that back then, XRP nearly hit the BMSB, which preceded a 1,500% surge in just four weeks, targeting the Fib 1.618 level.

Javon Marks takes this further, highlighting how XRP’s recent price action mirrors its 2017 breakout. Prices recently tested the all-time high as resistance, just as they did in 2017 before surging beyond it.

Beyond Fibonacci extensions, Elliott Wave theory also points to significant potential for XRP. Dark Defender has been tracking XRP’s wave structure since July 2023, when the price was around 40 to 50 cents.

According to his analysis, XRP is currently in Wave 4 of the Intermediate Cycle, with Wave 5 targeting $5.85. His Primary Cycle Waves, which track long-term movements, suggest a major upside target of $18.22.

Tips for Traders

  • Placing stop-loss orders can help minimize losses in case of rejection.
  • Avoiding over-leveraging is crucial, as sudden pullbacks could lead to liquidation.
  • Trade wisely, manage risk, and never invest more than you can afford to lose.

For more insights and updates on the cryptocurrency market, visit Global Crypto News.

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