XRP is displaying the telltale signs of an enormous bullish breakout as institutional demand mounts and the price sits above critical technical levels. One of the charts recently posted by Ali_charts displays a symmetrical long-term triangle that XRP has unambiguously broken out of and entered into a new trading range between $2 and $3.
XRP is currently just below $3, with analysts estimating that a close above this level on a weekly basis will initiate a strong rally towards $6.
Analyst says XRP could rally to $6 if it holds key support
As XRP holds above the $2.34 level, according to B2 Ventures founder Arthur Azizov, this is of crucial importance. “If the price is able to hold here, it should move into a new high around $2.65,” he stated.
Azizov identifies XRP in the last accumulation phase, with a breakout that will make the price into the $4–6 zone. While most altcoins follow Bitcoin, XRP has demonstrated independent movement ability, which could provide it with extra momentum during breakouts.
XRP set for breakout as ETF volume surges
The urgency is also being seen in ETF markets. Bloomberg ETF analyst, Eric Balchunas recently reported that XRP-linked ETFs have seen 4x–5x normal volume. Teucrium’s 2x leveraged XXRP ETF took the lead, with trading volume of $120 million and a daily return of 27%.
The fund now oversees $163.5 million in assets, greater than all other funds issued by that company combined.
This increase in institutional appetite, combined with the looming possibility of a spot XRP ETF approval, is generating bullish sentiment. Although the SEC has yet to act, the resolution of Ripple’s court battle and robust market action indicate that regulatory clarity is coming into view.
If XRP is able to hold momentum and close above $3, the stage might be set for a rally up to $6, potentially establishing a new all-time high.
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