🚨📈 XRP May Rise 50% in June? Check Out the 4 Factors That Could Drive the Price!
Even after falling 37% from its yearly high and still being stuck at the same level as in January, XRP may be about to reverse this negative scenario and surge by up to 50% in the coming weeks, according to an analysis by Crypto.News.
Check out the 4 main factors behind this potential rise:
🔹 1. Possible ETF of $XRP
The SEC is reviewing a request for an ETF by Franklin Templeton for XRP, with a decision expected by June 17. Analysts believe that if approved, the fund could attract over $8 billion from institutional investors in the first year.
Although immediate approval is unlikely (Polymarket estimates a 21% chance by July), the chances of approval by the end of the year are high (83%), keeping the market optimistic.
🔹 2. Technical indicators point to a rise
XRP shows strong technical signals, such as:
- Above the 200-day moving average
- Formation of a bullish pennant pattern
- Presence of an inverted head and shoulders, indicating a possible breakout
Accumulation indicators suggest that the asset is in an accumulation phase (Wyckoff), which typically precedes a rapid appreciation phase.
🔹 3. Market expects breakout
The funding rate in XRP perpetual futures remains positive, indicating that traders expect a bullish movement. This reinforces the thesis that the asset is about to rise.
🔹 4. Rise of $BTC could pull XRP
If Bitcoin breaks its current resistance and follows the cup-and-handle formation (indicating a target of $143,000), it is likely that other cryptos will follow the movement — with XRP among the main beneficiaries.
📉 At the moment, $XRP is priced at $2.14, and the target is to retest the yearly high at $3.38.
📈 Will June be the month of XRP? Keep an eye out!