According to the analysis from World of Charts, XRP is currently in a narrow range after a strong bullish impulse. This setup, called a bull flag, is often a precursor to a new surge. If the pattern confirms, the price could aim for an impressive target of $1,452.81.
Currently, XRP is comfortably trading above the $2.00 threshold, after bouncing off its recent lows around $1.80. Over the past week, the asset has shown a 7% increase and has formed a bullish descending wedge, another positive indicator signaling a potential recovery.
Analysts identify the $2.00 to $2.10 zone as a strategic point for new positions. Additionally, the RSI indicator remains at moderate levels, suggesting still significant upside potential.
The approval of ETFs on XRP boosts investor confidence
On the regulatory front, XRP has received significant support: the SEC has validated the futures ETFs on XRP proposed by ProShares, with the launch scheduled for April 30, 2025.
According to analyst Crypto Rover, this approval could significantly boost institutional interest in XRP, thereby enhancing its adoption among American investors. This context is even more favorable as XRP wallet activations have surged by 25%, demonstrating growing demand from the general public ahead of the ETF launch.
