XRP's price is garnering attention from analysts due to a recent breakout and enhanced institutional interest following legal clarity from the SEC.
Current XRP Price and Market Activity
At press time, XRP was priced at $2.95 with a daily trade volume of $6.4 billion. Over the past 24 hours, the token slipped by 2.5%, having dropped 1% for the week. However, institutional trading activity remains strong following weeks of range-bound movements.
Breakout Pattern and Analyst Targets
Crypto analyst Javon Marks pointed to XRP's long-term chart, noting that it often forms large symmetrical triangles before breaking out. "Next up could be another >200% increase to $9.63+", he mentioned. His forecasts are underpinned by Fibonacci extension levels, with 1.618 showing $9.63, while 2.618 extends above $123 for longer-term projections.
Overall Analyst Perspectives
Other market observers share bullish sentiments. Analyst CryptoBull identified $25 as "the most logical price target for XRP this bull run". Meanwhile, XRP remains about 9% below its 2018 peak, yet its market capitalization stands 41% higher.
Both short-term and long-term predictions for XRP appear positive, fueled by increasing institutional inflows and improving macroeconomic conditions.
