Key Points:
Classic patterns on the XRP price chart indicate that a range of $5-15 is expected in this cycle.
The launch of the REX-Osprey XRP ETF brings XRP into the mainstream financial sector.
XRP's price has risen 3% in the past 24 hours, up 17% from the low of $2.69 on September 1, with trading prices breaking the $3 mark on Thursday. Market analysts point out that several fundamental and technical factors are supporting XRP's potential for further increases.
The XRP price trend has formed a bullish flag pattern on the weekly timeframe, which may signal a significant breakout to a high of $15.
The first smaller bullish flag pattern formed in mid-June and was confirmed earlier this week when the price broke above the flag's upper boundary at $3.
The measurement target for this pattern, which is the height of the flag plus the breakout point, is $5.80, representing a 46% increase from current levels.
Analyst Crypto Pulse stated, "On the daily chart, XRP is forming a bullish flag pattern—a continuation pattern that typically signals the next wave of upward movement." He noted that this pattern appeared at the end of August and added:
The second is a larger bullish flag pattern that has been forming since November 2024, predicting higher targets for this altcoin.
XRP confirmed its breakout in July, pushing the price to a nine-year high above $3.66.
As this pattern is still in progress, XRP's price may continue its upward trend, moving towards the measurement target of $15.80, which is a 408% increase from current levels.
Analyst Egrag Crypto pointed out that after analyzing a previously set fractal, the target price for the amplifier pattern on the five-day chart is $7.
The REX-Osprey XRP ETF ($XRPR) will begin trading on U.S. exchanges on Thursday, having successfully passed the 75-day review period by the U.S. Securities and Exchange Commission (SEC) with no objections.
This fund will be the first fully regulated U.S. spot XRP ETF, marking an important turning point for XRP in the mainstream financial market.
The REX-Osprey™ XRP ETF, $XRPR, is coming this week! $XRPR will be the first U.S. ETF to deliver investors spot exposure to the third largest cryptocurrency by market cap, $XRP. From REX-Osprey™, the team behind $SSK. @OspreyFunds View Fund Prospectus:… pic.twitter.com/qMdKhfBZ0e
This product will be issued under the Investment Company Act of 1940, which provides a more streamlined approval path compared to the Securities Act of 1933 used for the approval process of spot Bitcoin ETFs.
Unlike products that directly hold the underlying assets, this structure based on the 1940 Act allows the fund to automatically issue after 75 days of submitting the application, unless the SEC explicitly raises objections.
This issuance marks a milestone moment for this cryptocurrency, potentially opening the door for institutional capital inflows into the XRP market.
ETF Store President Nate Geraci noted on Tuesday on X platform that this "will be another important litmus test for market demand for spot XRP ETFs under the '33 Act," adding that the assets of futures-based XRP ETFs are nearing $1 billion.
Additionally, Ripple has recently partnered with DBS Bank and Franklin Templeton to launch a tokenized money market fund on the XRP Ledger, which is another significant factor that may enhance XRP's practical application value, network demand, and ultimately drive price increases.
Introducing the next building block of on-chain markets – we’re partnering with @DBSbank and @FTI_Global to establish repo markets powered by tokenized collateral and stablecoins: https://t.co/vFTL32XO8C Investors will be able to use $RLUSD to trade for Franklin Templeton’s money…
Related: Rex-Osprey's XRP and Dogecoin (DOGE) ETFs performed well on their first day, with trading volume reaching $54 million.
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “XRP Price ‘Gearing Up’ for Breakout: Why the Next Target is $15?”
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