XRP Forms Bullish Flag as Traders Target Breakout Toward $3 and Beyond

XRP forms a bullish flag near $2.30, with breakout targets ranging from $3 to $3.87 short term.

Analysts project long-term XRP targets between $5.50 and $21.5 based on charting and Fibonacci tools.

SEC's review of spot XRP ETF and legal clarity could boost investor sentiment and price momentum.

XRP’s price action shows a developing bullish flag pattern, with analysts revising breakout targets. The token trades near $2.30, holding key support as technical setups suggest potential gains. Traders watch for breakout confirmation amid ongoing market activity and upcoming regulatory decisions.

Technical Setup and Price Targets

XRP is currently trading at $2.29 and remains within a descending channel that analysts interpret as a bullish reversal structure. According to crypto analyst VipRoseTr, the ideal buy zone is around $1.8502, where multiple indicators like trendlines and Fibonacci levels converge. “This setup could be explosive,” VipRoseTr stated, with target prices of $2.9520, $3.3967, and $3.8767 upon breakout confirmation.

Source :VipRoseTr(X)

CW8900 on X noted that the next phase for XRP could bring an explosive rise beyond its previous all-time high. Fibonacci retracement analysis suggests a long-term target near $21.5, representing a 6.618 retracement level

Source :CW8900(X)

An updated technical review by Rose Premium applied logarithmic and non-logarithmic charting methods to the bullish flag formation. The resulting price targets vary, with logarithmic analysis estimating $18, linear analysis around $5.50, and an average target near $11.75. This range may extend 15-20% due to crypto market liquidity conditions.

Market and Regulatory Factors

The XRP ecosystem benefits from increasing user engagement and network activity. XRP’s 24-hour trading volume is around $2.1 billion, though recent volume shows a slight decline. Investor interest may rise if upcoming regulatory events progress positively. The U.S. Securities and Exchange Commission (SEC) is reviewing a spot XRP ETF application, a process that could influence market sentiment

Emily Clarke, Head of Research at Digital Asset Management, noted, “The new SEC leaders seem more accepting of crypto, which will influence future ETF approvals.” The resolution of Ripple’s legal issues and potential ETF approvals are viewed as key drivers for XRP’s price.

The post XRP Forms Bullish Flag as Traders Target Breakout Toward $3 and Beyond appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.