- XRP breaks out above $2.25 with rising volume and bullish technical signals confirming momentum.
- ETF approval and 79% surge in derivatives volume boost XRP’s outlook for a strong summer rally.
- Analysts predict XRP could hit $9.5–$27 if bullish patterns and Bitcoin strength align.
XRP continues to attract attention in the cryptocurrency market as traders anticipate a hot summer for XRP and altcoins. Recent momentum of this cryptocurrency demonstrates bullish characteristics which result from positive technical aspects and rising trading volume and new ETF approvals. Market participants are carefully watching key resistance and support levels to assess potential price movements in the coming months.
XRP Breaks Out as Technical Indicators Turn Bullish
According to analysis prepared by Ali Martinez, XRP has confirmed a breakout from an inverted head-and-shoulders pattern. After breaking the neckline around $2.20–$2.25, the cryptocurrency surged to $2.27, indicating a bullish reversal.
Trading volume also increased to $3.9 billion, while the MACD line crossed above the signal line, suggesting upward momentum. The RSI has climbed to 59.28, moving away from neutral levels without approaching overbought conditions. If XRP maintains this strength, the next resistance levels are $2.36, $2.56, and $2.76 based on Fibonacci retracement analysis.
The ProShares XRP Futures ETF approval by the US SEC, effective from April 30, 2025, has added to positive sentiment. Derivative data shows volume surged by 79.20%, with open interest rising by 3.82%, signaling heightened activity among traders.
Analysts Predict Higher Targets Amid Structural Patterns
According to an observation by EGRAG Crypto, XRP appears to be repeating its 2017 fractal, which saw massive gains. His latest chart shows XRP trading within a 5-wave Elliott Wave structure, suggesting that another rally may be forming soon.
EGRAG emphasized that closing below the 21 EMA on the two-week timeframe would not favor bulls but holding above Fib 0.5 would be crucial. Closing above Fib 0.786 would signal an early bullish formation, while Fib 1.0 remains the key area to monitor XRP’s strength against Bitcoin.
Based on the full formation, EGRAG suggested XRP could range between $9.5 and $27, depending on Bitcoin’s performance.
