- XRP’s bullish flag pattern and key support levels signal a potential breakout toward $10.
- Spot ETF approval odds hit 85%, boosting investor confidence and institutional interest in XRP.
- Ripple’s RLUSD launch and whale accumulation point to long-term ecosystem strength and demand.
XRP is currently trading at $2.28 after a sharp correction from its yearly high of $3.39. Still, analysts are watching several key developments that could push the price higher. With strong technical patterns, ETF expectations, and rising institutional activity, many are now looking at $10 as a realistic cycle target.
Regulatory Clarity and Technical Setup Support a Move Higher
According to analysis prepared by Clifton FX, XRP is forming a bullish flag pattern on the 2-day chart. If the token breaks above the $2.48 resistance, the next upside target is near $4.
A further move beyond that could create the momentum needed to aim for $10 this cycle. XRP remains above key moving averages. The 50-day EMA sits at $2.30, and the 100-day EMA is at $2.26.
These levels offer strong support, along with $1.70, which traders say is a must-hold line for bullish continuation. Dark Defender forecasts a possible rise to $3.33 in the near term and $5.85 in the longer term if the structure remains intact.
ETF Bets, Whale Activity, and Global Expansion Build a Strong Case
According to data from Polymarket, the odds of a spot XRP ETF approval rose to 85% as of May 23. This has pushed many investors to increase exposure. Whale wallets holding 10 million to 100 million XRP grew their share of the total supply to 12.1%, up from 11.58% in April, according to Santiment.
Ripple’s expansion is also supporting long-term demand. The company’s $1.25 billion acquisition of Hidden Road gives it access to global clearing infrastructure. While XRP is not directly used in settlement, its ledger technology supports the new RLUSD stablecoin, which has now received regulatory clearance.
Bitcoin’s movement is also seen as a driver. If BTC moves toward $150,000, analysts expect XRP to outperform. XRP’s current triangle pattern could lead to a breakout that sends it to a new all-time high and possibly toward $10 this cycle.
