XRP CFN

  • XRP mimics the 2017 breakout pattern after six years of consolidation, targeting $4.60.

  • ETF speculation grows as Polymarket raises approval odds to 83%.

  • Trading volume rises 40% as institutional interest and futures demand increase sharply.

XRP is trading around $2.32 and is showing signs of a renewed uptrend following a prolonged consolidation phase. After six years of limited price movement, analysts say the current setup closely matches the breakout structure seen in 2017. With trading volume and institutional attention increasing, expectations are rising for a sharp move.

XRP Repeats Historical Pattern as Market Prepares for Breakout

According to analysis prepared by CW8900 on X, the asset has completed a successful retest after a breakout. The analyst notes that the rally could resume and possibly reach $4.60 in the near term. “The longer the consolidation, the greater the price movement,” the analyst stated, referencing similarities to XRP's 2017 behavior.

Data from CoinMarketCap shows that the cryptocurrency is currently trading in a narrow range between $2.29 and $2.47. Despite the limited movement, the token is up 1.4% in the past 24 hours and 7% over the last 30 days. Analysts also point to growing momentum as Bollinger Bands tighten and traders prepare for a potential move.

Further confirmation comes from the completion of a bullish pin bar pattern near key support, signaling renewed buyer interest. This formation is being watched closely by traders, especially with the Relative Strength Index near neutral levels, suggesting room for upward momentum.

ETF Speculation and Institutional Demand Fuel Market Expectations

According to a statement by CryptoBeast on X, interest in XRP among financial professionals is growing. This follows increased speculation about a possible XRP spot ETF filing by BlackRock. On Polymarket, odds for an XRP ETF approval have climbed to 83%, showing growing market confidence.

Futures, launched by the CME on May 19, have seen consistent demand. Data from CoinGlass also shows that open interest in XRP derivatives rose 2.25% to $4.76 billion. Spot volume increased by 40% to $1.86 billion, indicating stronger market participation.

Analysts believe a filing from BlackRock could push the digital asset toward its all-time high of $3.84. Market participants are closely monitoring developments as XRP mirrors the breakout pattern that led to a major rally in 2017.

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