- XRP price faces strong resistance at $3.80-$4.00, aligning with Wave 4 corrective patterns.
- Analysts predict XRP could hit $15 after breaking out of a symmetrical triangle.
- XRP spot ETF approval in 2025 could attract $4-$6 billion in first-year inflows.
Ripple’s XRP Price has been on a notable rise recently, attracting significant attention in the crypto market. The cryptocurrency surged by 10% in just 24 hours, briefly crossing the $3 mark for the first time in seven years.
This surge coincides with the growing excitement surrounding the upcoming Trump inauguration, adding to the overall market volatility. As of press time, XRP is priced at $3.26, showing a 7% increase in the last 24 hours, with a massive trading volume of approximately $23.95 billion.
Resistance Levels and Elliott Wave Analysis
XRP’s recent price movements have drawn the attention of analysts, including EGRAG CRYPTO. According to their Elliott Wave analysis, XRP price is currently facing a critical resistance zone between $3.80 and $4.00. This level aligns with the Wave 4 corrective wave, as highlighted in their charts.
The ongoing wave count, consisting of Waves 1 through 5, suggests that XRP might still be in the early stages of a larger bullish movement. Hence, the $3.80-$4.00 range remains a key hurdle for XRP before it can aim for higher targets.
XRP Price Breakout and ETF Approval Speculation
In addition to technical analysis, market experts are also looking at XRP’s potential breakout. Ali Martinez’s analysis indicates that XRP has successfully broken out of a symmetrical triangle pattern on the monthly chart, signaling possible further upward movement. His prediction suggests that XRP could target as high as $15 in the coming months, provided the bullish trend continues.
Furthermore, market players like JPMorgan are pinning their hopes on the approval of an XRP spot ETF in 2025. The approval of such an ETF could potentially bring in $4 to $6 billion in inflows during its first year.
Consequently, this prospect has driven speculation, with decentralized prediction platform Polymarket reporting a 71% probability of ETF approval this year. This surge in optimism comes amidst Ripple’s ongoing legal battle with the SEC and growing institutional interest in digital assets.