Recently, Ripple’s XRP, which has shown significant rises in the cryptocurrency world, seems to be preparing to return to its glorious days of 2017. Experts’ optimistic predictions, chart analyses indicating a rise, and expected positive developments in the Ripple-SEC case strengthen this narrative of glorious days. In light of all these positive signals, ambitious targets for XRP’s price reaching $5 are on the agenda.
Expected Rise Has Not Yet Arrived
Last year, Ripple achieved many partial victories in its legal battle with the U.S. Securities and Exchange Commission (SEC). However, these legal victories did not bring the expected rise in XRP’s price.
The cryptocurrency community has a strong belief that this case will result in Ripple’s favor. These expectations increase confidence in XRP’s potential growth. The bullish formations highlighted by chart analysts and the positive predictions of market analysts indicate that XRP could make a significant leap.
Bullish Signals in Charts
Cryptocurrency analysts highlighted the potential for a 2017-style rally in the XRP/BTC chart. These predictions have generated great interest in the crypto community and encouraged many investors to believe in the $5 target. Historical data shows that XRP experienced a sharp rise in early 2017 and maintained its stability until early 2021.
From the end of 2023 to 2024, there was a noticeable increase in XRP’s price. This is considered a harbinger of a larger rise in the future.
Notably, renowned analyst Rarara identified a significant “golden cross” formation and a positive RSI value around 44.31 on XRP’s weekly chart. These technical indicators increase optimism for significant gains in XRP. The possibility of a settlement with the SEC also fuels this optimism. Large XRP transfers from Binance to unknown wallets indicate that major investors are potentially accumulating, further supporting the bullish outlook.
A Hope for the Future: XRP ETF
The future of XRP is not limited to technical analyses. Ripple CEO Brad Garlinghouse’s implication that an XRP ETF could be launched in the U.S. by 2025 has created great excitement in the cryptocurrency community. The launch of an XRP ETF could bring more legitimacy and stability to XRP and contribute to further price increases.
Analyses from the end of January to the end of July show a fluctuating trend in the XRP liquidation chart for both long and short-focused liquidations. Increases in long-focused liquidations in mid-February and mid-April indicate notable price movements. The rise in short-focused liquidations at the beginning of July coincides with a period when XRP’s price increased. These developments show that market participants strongly react to price changes and contribute to overall volatility.
