Ripple's strategic acquisitions, updates on the XRPL, and the increasing interest of institutional investors may open the door to a strong rally that could push the XRP price up to $14.
The numerous acquisitions made by Ripple and the XRP Ledger (XRPL) updates support positive price action for the token. Additionally, XRP futures traded on CME reached over $542.8 million in trading volume in their first month.
Technically, Elliott Wave analysis and bullish flag formations indicate a significant upside potential for XRP's price between $5 and $14.
XRP Price Movements and Current Status
Since the beginning of March, the XRP price has been moving horizontally in the range of $2 to $2.6 and has not been able to catch a clear direction. However, the steps taken by Ripple and other developments indicate that this consolidation may soon break towards double-digit prices.
Ripple's Acquisitions and XRPL Upgrades
Ripple is making significant acquisitions in line with its goal to expand its ecosystem. For example, the $1.25 billion acquisition of prime broker Hidden Road shows Ripple's determination to serve institutional investors. Ripple will use the RLUSD stablecoin as collateral in Hidden Road's brokerage services.
Ripple's Chief Technology Officer David Schwartz indicates that more acquisitions are planned. In an interview with DL News in New York, Schwartz stated that the M&A (Mergers and Acquisitions) team is very active and that many acquisition processes at various stages are ongoing.
Ripple is pursuing an aggressive strategy targeting traditional finance companies; companies like Metaco and Standard Custody are among the notable acquisitions made in line with this strategy.
Schwartz also stated that the XRPL blockchain will be enhanced with programmability features and a new lending protocol. Recently, collaboration with Wormhole aims to increase the multi-chain interoperability of XRPL and the soon-to-be-released XRPL EVM Sidechain.
These developments, similar to the evolution of Ethereum, will enhance scalability and cross-chain compatibility and support the demand for XRP in cross-border payments and DeFi applications.
Ripple's strengthening of infrastructure and partnerships has the potential to increase the adoption of XRP, pushing its price above the current range.
Increased Interest in CME XRP Futures
XRP futures traded on CME reflect the increasing interest of institutional investors in the market, which could trigger a significant breakout in XRP price. Futures launched on May 19 generated over $542.8 million in trading volume along with standard and micro contracts.
According to the CME Group report, $19.3 million in trades took place on the first day it was launched on 15 companies and 4 individual trading platforms. CME emphasized that this diversified participation demonstrates strong demand for XRP futures.
In the first month, more than 24,600 contracts changed hands, with nearly half of the participants coming from outside the U.S. Additionally, an approved spot XRP ETF could provide additional capital inflow to XRP investment products, leading the token to a more solid position in the mainstream and contributing to price increases.
On the Polymarket platform, the current betting odds that XRP ETF approval will be granted by December 31 are around 76%.
Technical Analysis: Upcoming Breakout
Crypto analyst XForceGlobal indicates that XRP may soon experience a significant price breakout. They state that the recent pullback has dropped to $1.9 and that this sets the stage for a faster upward bullish move. They also add that the price is re-testing the 0.618 Fibonacci level around $2.
According to Elliott Wave analysis, XRP price has the potential to rise to $5. Other analyses shared earlier indicated that XRP has the potential to move in the range of $8 to $27. These predictions are consistent with Fibonacci extension levels based on a symmetrical triangle formation.
An upward breakout from the bullish flag formation could initiate the next wave of increases for XRP, allowing the price to rise to $14 with a 564% increase from its current level. This movement will start with buyers pushing the price above the $2.65 resistance, where it is currently consolidating, paving the way for a rally to $3 and beyond.
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