As Bitcoin (BTC) regained the six-figure mark and Ethereum (ETH) successfully broke through the $2500 level, the sentiment in the altcoin market quickly warmed up.
The altcoin season is gradually reaching its peak. Among them, XRP has become one of the focal assets due to its dual advantages of technical pattern and fundamentals, showing strong bullish potential.
The descending wedge has completed its breakout, and the technical pattern is positive.
Recently, XRP completed a key breakout from a descending wedge pattern, which is widely regarded by technical analysts as a strong reversal signal.
With the price strongly rising, a bullish pattern for XRP has been initially established.
If the price steadily advances, XRP is expected to initiate a new rising cycle, targeting historical highs.
The SEC lawsuit has concluded, and positive fundamentals are continually being released.
Previously, XRP missed the main uptrends in the earlier rounds of the bull market due to a protracted lawsuit with the U.S. Securities and Exchange Commission (SEC).
However, the 2023 ruling classified XRP as a non-security, legitimizing its market status and triggering a rapid rebound from $0.2 to $0.5.
Now, Ripple has largely completed its reconciliation process with the SEC, and the company continues to promote global cooperation and expansion, with XRP's cross-border payment applications becoming increasingly widespread.
All of this provides solid support for its price and further strengthens the market's confidence in the medium to long-term trend.
Target price could reach $5? Strong bullish signals.
Currently, XRP has completed three rounds of upward waves, and the technical pattern indicates it is at the starting point of a new parabolic rise.
In this round of bull market, XRP may welcome a corrective rally, and a price surge to $5 or even higher is not impossible.
XRP is facing an explosive buildup of energy from three rounds of bull markets, and once it breaks through the current resistance range, the market will quickly enter an acceleration phase.
Investors are advised to remain patient with their holdings before the full launch of the bull market.
Market outlook: XRP possesses explosive potential under the bull market.
As the macro market warms up and mainstream cryptocurrencies drive the overall trend upward, XRP's technical structure and policy environment are releasing dual bullish signals.
If the subsequent trading volume continues to expand and stabilizes at key support areas, XRP is very likely to embark on a path to new highs, becoming one of the core assets in this round of altcoin market.