XRP, the cryptocurrency associated with Ripple, has been locked in a long period of consolidation, trading between $0.300 and $0.600 for the past seven years.
Despite a brief surge during the 2021 bull run, which saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, without the bullish momentum to overcome the higher resistance levels.
However, some crypto analysts are now predicting one big upward trend for XRP in the coming months, potentially allowing it to soar to new heights.
Analysts are anticipating the XRP breakout
A technical analyst who uses the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movements between May 15 and August.
U-COPY points out that XRP has slowly risen from the previous low of $0.46 and is nearing the end of a long triangle formation, which has been on the rise since 2018.
The analyst believes that XRP’s true potential will be revealed in the fully formed bull cycle, where the token may experience substantial growth at the end of the year.
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Another analyst, Armando Pantoja, supports this bullish outlook. suggests that the crypto bull run could start in September or October 2025, with XRP possibly reaching a price of $0.75.
Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) relaxes its policies, position on cryptocurrenciescould push XRP to the next level.
This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, could increase the chances of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin.
Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If rates are cut multiple times in the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP reaching $10-$20 in Q4 2025 or Q1 2026.
‘Buy the dip’ opportunity?
According to According to market intelligence platform Santiment, The XRP Ledger (XRPL) recently witnessed a notable increase in the movement of dormant tokens, signaling a possible shift in market dynamics for the token.
Coinciding with the May opening, the company’s Token Age Consumed metric reveals a spike in old coin transfers, reminiscent of a similar event in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, down 16%.
However, unlike the previous event, Santiment suggests that there is a “compelling argument” that this current surge in the movement of ancient coins could be attributed to the importance of key figures. stakeholders looking to ‘buy the dip’.
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Additionally, it is worth noting the growing open interest in trade shows, which recently reached a three-week high. This increase in open interest indicates increased active positions in XRP, which may reflect growing market participation and increased trading activity.
Considering these factors together – the rise in dormant token activity, the potential buy-the-dip interest from key stakeholders and the rising open interest on exchanges – there appears to be a shift in sentiment around XRP.
At the time of writing, the seventh largest cryptocurrency is trading at $0.5020, down more than 7% in the past week alone and 1% in the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com