XRP Price Set for Major Move as Legal and ETF Catalysts Align

• XRP could dip to $1.80 before a potential 335% rally begins.
• ETF approval and Ripple’s expansion may fuel strong institutional demand.

XRP is showing renewed momentum, trading at $2.33 with a 1.05% increase over the last 24 hours. 

Analysts expect a possible short-term correction followed by a long-term price rally. Dennis Liu, host of the VirtualBacon podcast, has outlined both technical and fundamental signals that may support XRP’s upward path. 

Technical Setup Points to a Possible Retest Before Surge

According to Dennis Liu, XRP’s chart against Bitcoin shows a rounded top pattern similar to previous cycles. The XRP/BTC pair formed this pattern between June and November 2024, with a local high near 0.00003408 BTC and support at around 0.00002200 BTC.

A drop below support, which has already occurred, may push the pair to a lower range between 0.000017 and 0.000019 BTC. Liu said this setup mirrors previous behavior seen in Bitcoin versus Ethereum in 2021 and Solana in 2023.

Based on this, he outlined two possible paths for XRP. In the first, if Bitcoin stays between $100,000 and $112,000, XRP could drop around 22% to the $1.80 level. In the second scenario, if Bitcoin rises to $128,000, XRP might decline slightly, ranging between $1.80 and $1.85.

Liu added that this would be a temporary move, leading to a breakout. He maintained his earlier prediction of a $10 target for XRP, which would mean a 335% price jump from current levels.

Legal and Institutional Developments Could Fuel Growth

Liu cited five key catalysts that could support XRP’s long-term growth. First is the resolution of the ongoing SEC lawsuit against Ripple. With the case nearing conclusion, Ripple is now in a position to expand RippleNet across U.S. financial institutions. This could boost adoption and strengthen competition against SWIFT.

The second driver is the emergence of XRP futures contracts on the CME, which have already seen notable institutional demand. VolatilityShares has filed to offer ETFs tied to these futures. Liu explained that these investment vehicles could unlock significant capital inflows, as seen with ProShares’ Bitcoin ETF, which manages over $2 billion in assets.

Third, the approval of a spot XRP ETF in Canada seems likely. Prediction platform Polymarket indicates an over 80% probability of this outcome. JPMorgan estimates that a successful launch could bring in $8 billion within the first year. 

Fourth, the potential for a U.S. SEC-approved XRP ETF could follow, depending on regulatory trends. Lastly, Ripple’s stablecoin, RLUSD, now exceeds $315 million in market cap. 

Historical Performance Shows Room for Volatility and Gains

XRP has posted sharp price movements during past cycles. It surged nearly 500% following Donald Trump’s 2020 election win. From December 2019 to its 2021 peak, XRP rallied by 1,680%. Liu noted that the current chart and macro environment could lead to similar outcomes over the next six months.

The convergence of chart patterns, institutional interest, and regulatory progress signals a crucial phase for XRP. While short-term weakness may persist, Liu believes the groundwork is set for a substantial rally, depending on external market conditions and investor sentiment.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.