XRP cryptocurrency demonstrates strong technical and fundamental signs indicating potential significant growth. Analysis reveals that the upcoming multi-year breakout could target a price of $12.60.
Technical Indicators Suggest Continued Growth
Since the beginning of the year, XRP has been forming a cup-and-handle pattern on the daily chart, with the upper boundary at $3.40 and the lower at $1.6135. The handle stage currently displays a reverse head-and-shoulders pattern. The price is above the 50-day and 100-day moving averages. Traders are closely watching the $3.65 resistance level, as a breakout above this could pave the way toward the $5 mark and beyond.
XRP Ledger Expansion and Stablecoin Growth
The total value locked in the XRP Ledger has increased by 16% over the last month to $85 million. Stablecoin activity has also grown, with holdings surpassing $167 million. Ripple USD (RLUSD) leads in this segment, and by 2025, its supply is expected to reach $642 million. Ripple is expected to further this development by including Hidden Road transactions in the ledger and utilizing its recent Rail acquisition to solidify its stablecoin strategy.
ETF Approvals Could Attract Institutional Investments
Market participants are also anticipating the potential approval of multiple spot XRP exchange-traded funds by the Securities and Exchange Commission. Under pro-crypto chair Paul Atkins, the regulator is reviewing several applications. Leveraged XRP ETFs already have millions in assets under management at ProShares and Teucrium, making it likely that spot ETFs will see even higher demand.
The increasing interest in XRP, backed by technical structures and growing network fundamentals, supports the potential for significant price growth. A decisive move above $3.65 could confirm the next upward phase.
