XRP Price Rises 4%, but Analysts Say the Real Rally Has Yet to Begin

• XRP volume spiked 162% to $5.29B while price held strong above $2.90.
• Analyst eyes $3.65 breakout with targets near $21.5. 

Ripple’s XRP climbed to $2.93 on Monday, marking a nearly 4% increase in the past 24 hours. Trading activity surged sharply, with daily volume jumping 162.03% to $5.29 billion. The price rally lifted XRP’s market capitalization to $175.12 billion.

XRP also posted a 4.44% gain over the past week. Market participants noted that the coin is consolidating above $2.90, a sign that traders are awaiting the next move while large inflows continue. Recent reports show 340 million XRP were accumulated in recent weeks.

Analysts Eye All-Time High as Turning Point

Analyst CW pointed to a clear technical barrier. “The real rally for $XRP will be seen after it breaks above its ATH. It will begin soon,” he stated. XRP hit its peak at $3.65 in mid-July, which now acts as a decisive threshold.

CW explained that the token is following a cycle seen in past surges. The pattern usually starts with an explosive breakout, then extends into consolidation and correction before shifting into a strong rally phase. According to his analysis, XRP is already through its consolidation stage.

The first target remains $3.65, with a second target set at $21.5 based on the Fibonacci extension. That projection suggests XRP could transition into a rally comparable to its past historical advances if it surpasses its former high.

Elliott Wave Analysis Signals Next Strong Phase

Meanwhile, analyst Davie Satoshi highlighted a “textbook Elliott Wave structure” on the monthly log chart. He argued that the corrective cycle has ended and XRP is now entering the third wave of a five-wave sequence. Historically, this stage has delivered the sharpest gains.

He added that institutional accumulation is increasing, with hedge funds and family offices now treating XRP as safe to hold. That accumulation, he said, provides a base for stronger momentum if the technical setup unfolds as expected.

One of his highlighted drivers is Ripple’s purchase of Rail Financial and the launch of RLUSD. Rail already handles about 10% of stablecoin transfers, and routing this activity through the XRP Ledger could lift volume and utility. 

The rollout of ISO 20022 in November is another factor favoring Ripple. The SEC case outcome also gave XRP an advantage compared with most altcoins. With legal clarity that Ripple’s currency is not a security, restrictions on institutional involvement have eased. Analysts see this as a turning point for its adoption.

ETF applications are now pending with firms such as CoinShares, WisdomTree, Bitwise, 21Shares, Franklin Templeton, Grayscale, and Canary Capital. The review window is set for October, as CNF mentioned in the previous update. ProShares has already launched an Ultra XRP futures ETF with double exposure on NYSE Arca.

With technical patterns aligning with growing adoption and institutional channels, analysts argue the token could be preparing for its strongest rally phase if the $3.65 barrier is cleared.