XRP price has risen by 3% in the past 24 hours, climbing 15.5% from the low on November 21, reaching $2.10 on Monday. Multiple fundamental, on-chain data, and technical factors support its potential for further increases.
Key Points:
With increasing institutional demand and bullish sentiment among traders, XRP is expected to create new all-time highs.
Technical analysis of XRP price, particularly the symmetrical triangle pattern, suggests a potential increase of 27% to $2.65.
According to data from CoinShares, institutional demand for XRP investment products remains strong.
XRP exchange-traded products (ETPs) attracted a total inflow of $245 million in the week ending December 5. CoinShares' Head of Research, James Butterfill, stated in the latest digital asset fund flow weekly report: "This brings the total inflows for the year to $3.1 billion, far exceeding the $608 million inflow for 2024." He further noted:
Meanwhile, spot XRP exchange-traded funds (ETFs) continue to maintain their perfect record, recording an inflow of $10.23 million on Friday, achieving net inflows for 15 consecutive days.
According to SoSoValue data, this continuous inflow trend has pushed the cumulative inflow amount close to $900 million, with total assets under management (AUM) reaching $861.3 million.
Cryptocurrency investor Giannis Andreou stated in a post on X platform on Monday: "For 15 consecutive days, every U.S. spot $XRP ETF has shown green inflows, pushing total assets close to $900 million." He also pointed out that over 400 million XRP tokens are locked in these investment products.
Andreou added:
As reported by Cointelegraph, the ongoing inflows into spot XRP ETFs are likely to determine the next phase of XRP's price movement.
XRP price is expected to rise steadily as leveraged traders continue to show interest in establishing new positions, indicating that speculative momentum is strengthening.
The daily funding rate for XRP has shifted from the previous day's 0.0157% to a positive 0.0189%, indicating that most traders are building long positions.
The long/short account ratio for XRP on Binance currently leans 72% towards long positions. While this high activity introduces liquidation risks, it also highlights increased market confidence in XRP's upside potential.
Analysts from the trading platform Beacon have observed a similar situation, noting that XRP traders on Hyperliquid tend to be bullish, with long positions at 72%, valued at $94.5 million, compared to 28% short exposure of $37.6 million.
New week, fresh sentiment. @HyperliquidX traders are leaning bullish with 55.3% longs across the market. $XRP is even stronger: 72% long vs 28% short with $94.5M long exposure against $37.6M short exposure. How are you feeling about the market right now? pic.twitter.com/0U6HdvbnTC
Data from Cointelegraph Markets Pro and TradingView shows that, as illustrated in the chart below, XRP's trading price has broken above the symmetrical triangle pattern on the four-hour time frame.
The price needs to close above the triangle's upper trend line at $2.15 to continue its upward trajectory, with a measured target of $2.65.
Such a move would result in a total increase of 27% from the current level.
A pseudonymous trader, BD, stated in a post on X platform on Monday: "The symmetrical triangle on the 1-hour chart shows XRP is consolidating tightly," and added,
As reported by Cointelegraph, a daily close above $2.30 will confirm the structural breakout and could trigger a price move towards $2.58, provided the $2 support level holds firm.
Related: VC Financing Review: Funding remains substantial, but the number of transactions is decreasing, and crypto venture capital is drying up.
Original article: “XRP Bulls Grow Louder: What Will Spark Breakout to $2.65?”
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