XRP continues to show stability amid market volatility, strengthening after the announcement regarding the establishment of the US strategic crypto reserve.
General State of XRP
On Sunday, XRP remained strong, extending its recent strength after a turbulent week. The upturn followed a sharp rally last month, sparked by Donald Trump's announcement of a strategic crypto reserve, which included XRP, Solana, and Cardano. However, clarifications emerged that the government would not actively acquire additional assets, leading the market to retreat, pushing XRP down over 24.88%.
Price Analysis and Forecast
Despite the pullback, analysts remain bullish on XRP's long-term trajectory. Popular crypto analyst Dark Defender highlighted a 'Coffee Cup' pattern forming on XRP's monthly price chart, describing it as a significant bullish signal. He noted that this pattern, combined with Elliott Wave analysis, suggests a potential dramatic price rally. He outlined three key price targets based on this setup: a surge to $5.85–$18.22 in Wave 3, a climb to $36 in Wave 5, and a long-term projection of $44.22, indicating a 1,965% surge.
Market and Institutional Investors' Influence
Analyst Ali Martinez emphasized XRP's critical technical positioning. He pointed out that if XRP avoids closing below the head-and-shoulders neckline and instead breaks above the right shoulder, it could invalidate the bearish setup, potentially triggering a breakout toward $5. Experts anticipate that trillions of dollars could flow into XRP, driven by evolving market dynamics and political shifts. Fintech and Web3 expert Jake Claver highlighted the significance of XRP holdings, noting that owning 10,000 XRP places an investor in the top 10% globally.
Following recent changes in market dynamics and political announcements, they may have a significant impact on the future of XRP and open up new opportunities for institutional investors.
