- XRP sets sights on $2.75 with bullish chart signals
- Institutional demand boosts XRP’s future outlook
- Cycle pattern points to XRP hitting $120 target
XRP continues to gain attention as traders observe patterns similar to the 2017 market cycle. Analysts suggest the current market movement may be accelerated or delayed, yet still aligned with the broader cycle. Projections point toward a double-digit price this summer, with long-term forecasts aiming at $120.
XRP Targets $2.75 Before Higher Breakouts
According to an observation by Dark Defender via X, XRP is currently targeting $2.75, though resistance is expected at $2.55. The analyst also pointed to $2.42 as a key support level.
At the time of writing, XRP is trading around $2.19 following a rejection from a recent high of $2.30. CoinMarketCap data shows XRP remains above the 100-day EMA on the 8-hour chart, keeping a bullish outlook intact.
The price structure aligns with an inverse head and shoulders pattern, suggesting a possible 25% breakout to $2.74. Traders are watching $2.22 as short-term resistance before considering a move toward $2.50 and higher.
Institutional Demand and Strategic Expansion Support Long-Term Outlook
According to CME Group, XRP futures will launch on May 19, subject to regulatory approval. These will include micro (2,500 XRP) and standard (50,000 XRP) contracts. Coinbase has also filed with the CFTC to introduce similar products. This growth in futures trading reflects increased institutional interest in XRP.
Ripple recently acquired Hidden Road, a global brokerage firm handling $3 trillion in annual transactions. According to a CNBC interview with Monica Long, the acquisition supports Ripple’s efforts in payments and asset tokenization. CEO Brad Garlinghouse confirmed Ripple is focusing on business expansion rather than pursuing a public listing.
Based on analysis prepared by “All Things XRP,” limited liquid supply and growing use cases could push XRP toward $27 and beyond. He added that with continued institutional demand and capital inflows, the next cycle may lift XRP to the $120 mark.
