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XRP Price Breakout Coming? 5 Signs Point to a 15% Rally
Ripple’s XRP hasn’t shown significant price action lately, but subtle clues are building up, hinting at the possibility of a larger price jump in the near future. From increased whale buying and rising open interest to Ripple’s new banking license plan and the steady rise of its RLUSD stablecoin, numerous small indicators suggest that XRP could soon break past key resistance levels.
Could this be the start of a 15% rally? Here are 5 essential signs traders should pay attention to:
Open Interest Rises as Big Hearing Nears
One of the most telling indications is XRP’s growing open interest. It has skyrocketed from $3.5 billion to almost $5 billion in less than two weeks. Many traders are placing bets on higher prices, and some speculate that the upcoming testimony of Ripple CEO Brad Garlinghouse before the U.S. Senate could push XRP higher if it brings positive news for crypto regulations.
XRP ETF Approval Odds Surge
Another point of excitement is the growing speculation around an XRP Exchange-Traded Fund (ETF) approval. According to prediction markets like Polymarket, there’s now a 90% chance that an XRP ETF will be approved by the end of 2025. This optimism stems from recent regulatory wins for Ripple and the broader acceptance of crypto ETFs in the U.S.
Whales Are Accumulating XRP
Large whales are also making moves. Wallets holding between 100 million and 1 billion XRP have increased their holdings by almost a billion coins recently. Smaller whales, with 100,000 to 1 million XRP, have purchased another 30 million coins in just two weeks.
Ripple’s Push For Banking License
Ripple’s efforts to obtain a banking license are also sparking optimism among investors. If approved, it could enhance trust in Ripple’s plans and propel the price of XRP upwards. Many believe this fresh growth could flow back to XRP.
Triangle Pattern Hints at Breakout
Lastly, traders are hopeful about an ascending triangle pattern forming on XRP’s chart. This shape typically appears before a strong upward move. If XRP can break and hold above the $2.29 resistance line and turn it into support, the next target could be around $2.60, representing a 15% increase.
Presently, XRP is trading at approximately $2.29, with an uptick of about 0.7% seen in the last 24 hours.
Source: coinpedia.org
