XRP price eyes rally to $3.45 after Ripple CEO tells investors to ‘lock in’
XRP price shows potential for a 35% rally toward $3.45, supported by technical patterns and Ripple's institutional expansion via Ripple Prime.Summary
XRP (XRP) is showing signs of a potential 35% breakout, targeting a rally toward $3.45, driven by strong technical support and fundamental developments from Ripple. Technically, XRP has bounced from the lower trendline of its ascending triangle pattern, aligning with the 50-week EMA at $2.33, which historically precedes significant upward moves. If this pattern holds, the price could reach $3.45 by December. Conversely, a breakdown below the trendline could lead to a 25% drop to $1.65.
Fundamentally, Ripple's institutional push provides a strong tailwind, highlighted by the rebranding and finalization of the Hidden Road acquisition into "Ripple Prime," a global, multi-asset prime broker. CEO Brad Garlinghouse emphasized that "XRP sits at the center of everything Ripple does," reinforcing the token's importance in their "internet of value" vision. Analysts suggest Ripple's large XRP holdings incentivize them to drive the token's success, especially following news of their intent to buy $1 billion in XRP for a new Nasdaq-listed treasury under the "XRPN" ticker.
(Source：Cointelegraph)