Key takeaways:
XRP (XRP) price was up 3% in the past 24 hours, and 17% higher than its Sept. 1 low of $2.69, to trade above $3 on Thursday. Market analysts said this positions XRP for further gains backed by several fundamental and technical factors.
XRP price technical analysis puts $5-$15 in play
XRP price action has painted bull flag patterns on the weekly time frame that could result in a massive breakout to as high as $15.
The first is a smaller one that formed in mid-June and was resolved earlier this week when the price broke above the flag’s upper boundary at $3.
Related: Ripple vs. SEC: How the lawsuit strengthened XRP’s narrative
The measured target for this pattern, the flag’s height added to the breakout point, is $5.80, up 46% from the current level.
XRP/USD weekly chart. Source: Cointelegraph/TradingView“On the daily chart, XRP is forming a bull flag — a continuation pattern that often signals the next leg higher,” said analyst Crypto Pulse, noting the emergence of the pattern in late August, adding:
The second is a bigger bull flag pattern that has been forming since November 2024, projecting an even higher target for the altcoin.
XRP confirmed the breakout in July in a rally that pushed the price toward nine-year highs above $3.66.
With the pattern still in play, XRP price could continue its uptrend toward the measured target of $15.80, up 408% from the current levels.
Analyzing a fractal from a previous setup, analyst Egrag Crypto said that a megaphone pattern on the five-day chart targeted $7.
XRP/USD five-day chart. Source: Egrag CryptoREX-Osprey ETF launch to boost XRP price
REX-Osprey XRP ETF, $XRPR, begins trading on US exchanges on Thursday, after passing the SEC’s 75-day review period with no objections.
The fund will be the first US spot XRP ETF under full regulatory oversight, marking a turning point for XRP in mainstream finance.
The product is set to launch under the Investment Company Act of 1940, which provides a simpler approval path than the Securities Act of 1933 used for the spot Bitcoin ETF approval process.
Unlike products that directly hold the underlying asset, this 1940 Act structure allows the fund to launch automatically 75 days after filing unless the SEC objects.
This launch marks a pivotal moment for the altcoin, potentially opening the floodgates of institutional capital into XRP markets.
This “will be another good litmus test for ‘33 Act spot XRP ETF demand,” ETF Store president Nate Geraci said in an X post on Tuesday, adding that futures-based XRP ETFs are already nearing $1 billion in assets.
In addition, Ripple’s latest partnership with DBS Bank and Franklin Templeton to launch a tokenized money market fund on the XRP Ledger is another factor that may boost XRP’s real-world utility, network demand and, ultimately, price.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Source: https://cointelegraph.com/news/xrp-price-gearing-up-breakout-next-target-15-dollars?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
