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XRP Price Breakout Coming? 5 Signs Point to a 15% Rally
Ripple’s XRP has been stagnant lately, but subtle clues suggest that the cryptocurrency is poised for a significant price surge. The accumulation of big players, rising open interest, Ripple’s push for a banking license, the formation of an ascending triangle pattern on the chart, and a robust trading environment are all indicating that XRP could be preparing to break past its current resistance levels.
One of the key signs pointing to a 15% rally is the significant increase in open interest. The metric has jumped from $3.5 billion to nearly $5 billion in under two weeks, with many traders betting on higher prices. This surge in open interest may be fueled by the upcoming testimony of Ripple CEO Brad Garlinghouse before the U.S. Senate, which could bring positive news for the cryptocurrency and push its value upward.
Another sign is the increasing optimism surrounding an XRP Exchange-Traded Fund (ETF) approval. Prediction markets like Polymarket now suggest a 90% chance that an XRP ETF will be approved by the end of 2025. This newfound optimism stems from recent regulatory wins for Ripple and the broader acceptance of crypto ETFs in the U.S.
Whales, or large investors, are also buying up XRP at an alarming rate. Wallets holding between 100 million and 1 billion XRP have increased their holdings by nearly a billion coins recently, while smaller whales have purchased another 30 million coins in two weeks. This accumulation of institutional capital could lead to further price growth.
Ripple’s push for a banking license is also generating excitement among investors. If successful, the move could significantly boost trust in Ripple’s plans and drive up the value of XRP.
Lastly, traders are hopeful about an ascending triangle pattern forming on the chart. This shape often 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 stop could be around $2.60, representing a 15% gain from current levels.
As of now, XRP is trading at around $2.29, reflecting a rise of 0.7% in the last 24 hours.
Source: coinpedia.org
