Currently, XRP is trading at $2.33 with a slight increase. Analysts expect a correction before a possible significant rise.
Technical Analysis and Short-Term Predictions
According to Dennis Liu, the XRP to Bitcoin chart shows a rounded top pattern similar to past cycles. If the XRP/BTC pair drops below support, it could push XRP down to the 0.000017-0.000019 BTC range. He outlined two possible scenarios: if Bitcoin remains within its current range, XRP may drop to $1.80, while a rise to $128,000 for Bitcoin would result in only a slight decline.
Legal and Institutional Growth Opportunities
Liu highlighted five key factors that could support XRP's long-term growth, including the resolution of the ongoing SEC lawsuit against Ripple, the emergence of XRP futures on CME, the potential approval of a spot XRP ETF in Canada, and a possible SEC-approved ETF in the US. Additionally, Ripple's stablecoin RLUSD has surpassed $315 million in market capitalization.
Historical Dynamics and Volatility of XRP
XRP has exhibited sharp price movements in previous cycles, including a nearly 500% surge following Trump's 2020 election win and a 1,680% rally from December 2019 to its 2021 peak. Liu noted that the current chart structure and macro environment could lead to similar outcomes in the next six months.
While short-term weaknesses may persist, Liu believes XRP is on the brink of a substantial rally, subject to market conditions and investor sentiment.