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Is XRP Price Gearing Up for a Major Rally?
By: bitcoin ethereum news|2025/05/06 17:30:01
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XRP is holding steady around $2.19 , showing resilience despite a minor 0.3% weekly dip. This stability might be the calm before a major price surge. On lower timeframes, XRP continues to form bullish price structures with higher highs and higher lows, keeping traders on alert. While a decisive breakout hasn’t occurred yet, several key signals suggest growing upside momentum. Technical Levels to Watch Crypto analyst Fabio Zuccara has identified a symmetrical triangle pattern on the XRP chart—often a precursor to sharp price moves. The token currently trades just above its 20-day Simple Moving Average (SMA) at $2.167 , while facing resistance at the 50-day Exponential Moving Average (EMA) near $2.208 . A breakout above the EMA resistance could push XRP toward $2.27 , $2.33 , and possibly beyond $2.50 . However, failure to break out might lead to a retest of support at $2.068 or even $1.993 . Whale Accumulation Suggests Confidence On-chain data indicates strong institutional interest. Over 200 million XRP were added last week to wallets holding between 10 million and 100 million tokens. A notable whale transaction involved 29.5 million XRP (worth over $64 million) moved to Coinbase . Sasha Varela , senior analyst at ChainWave Metrics , stated, “This volume is not retail-driven. It reflects informed buyers anticipating a significant price movement.” XRP ETF Speculation Fuels Market Optimism Speculation around a potential ProShares XRP spot ETF is intensifying. Analysts currently estimate an 80% probability of approval . Linda Moh , ETF strategist at WaveX Funds said : “ETF anticipation alone can drive FOMO-led rallies,” especially when combined with technical strength and whale accumulation. An ETF approval would mark a significant regulatory milestone for Ripple and the broader altcoin market. Also Read : XRP News: Ripple Blamed for XRP Price Stagnation, but Legal Expert Calls It a Myth , Long-Term XRP Price Prediction Crypto analyst Dark Defender believes XRP is in the final phase of a fifth wave Elliott structure, expecting a move toward $3, followed by potential targets at $4.40 and $6.30, as long as XRP stays above $2.00. Immediate key support lies at $1.88.With bullish technical patterns, rising institutional interest, and ETF optimism aligning, all eyes are now on whether XRP can break above the $2.208 resistance. The next move could define XRP’s momentum for the weeks ahead. Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. FAQs ProShares has filed for XRP ETFs, but no approval has been granted yet. Analysts estimate an 80% chance of approval. XRP shows bullish signs with whale buys, ETF buzz, and strong patterns, suggesting a potential major rally if key levels are broken Source: https://coinpedia.org/news/is-xrp-price-gearing-up-for-a-major-rally/
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