XRP price has wavered this year, but its fundamentals and strong technicals point to more gains later this year.
Ripple (XRP) rose to $2.60, its highest level since March 3 and 60% above its lowest level this year.
XRP has numerous bullish catalysts. Donald Trump has mentioned it as a potential component of the U.S. strategic stockpile. On Monday, Amber, a Nasdaq-listed company, announced it would add XRP to its $100 million crypto ecosystem reserve. It will also add popular blue-chip coins like BNB, Solana (SOL), Bitcoin (BTC), and Ethereum (ETH).
Amber joins companies like Worksport, BC Bud, and Wellgistics that have also added XRP to their strategic reserves.
The likely approval of spot ETFs by the Securities and Exchange Commission is another factor that could boost XRP’s price. The odds of approval have remained above 80% on Polymarket, the popular prediction platform.
XRP price is also expected to benefit from the continued growth of Ripple USD (RLUSD), Ripple’s stablecoin. Its market cap has climbed to over $316 million, while its daily volume averages more than $100 million. This makes it one of the most actively used stablecoins in the crypto market.
Another bullish factor is the conclusion of the SEC vs Ripple case. With legal clarity now established, Ripple is better positioned to ink new partnerships with financial institutions. CEO Brad Garlinghouse has expressed hope that more U.S. banks will adopt Ripple’s technology to disrupt the SWIFT payment system.
Therefore, a potential XRP ETF approval, RLUSD growth, RippleNet growth, and the addition into strategic reserves will likely boost its token price. It will also benefit from the expected Bitcoin price rally.
XRP price prediction
The weekly chart shows that XRP has formed several highly bullish technical patterns. One key structure is the bullish pennant, a continuation pattern made up of a vertical rally followed by a symmetrical triangle consolidation. XRP has already broken out above the triangle, signaling the start of a long-term rally.
It has also completed the four phases of the Elliott Wave cycle and has now entered the fifth wave. This final wave is typically bullish and could propel the token to the key psychological resistance level at $5, approximately 100% above the current price.
XRP has also remained above the 50-week Exponential Moving Average, a sign that bulls have remained in control since October last year. The bullish forecast will become invalid when it drops below the 50 EMA.
