XRP is attracting increasing attention as it continues its upward price momentum, with analysts predicting that this cryptocurrency could reach highs of up to $10. This comes amid growing interest from both retail and institutional investors, indicating that XRP has significant upside potential in the current market.
Support Levels Indicate Ongoing Growth Potential
Cryptocurrency analyst Patel points out that XRP has strong support at the $2 mark. If the price continues to hold above this level, it could serve as a solid foundation for future growth. He also mentions that resistance is observed at $2.90, with surpassing this level likely leading to further price increases.
Patel notes that the $0.80 threshold is another important support level to watch. If XRP maintains above these levels, the prospect of XRP targeting $10 could become more feasible. XRP's support levels indicate stability in recent price movements. Analysts consider these levels as key factors for sustaining growth momentum in the current bullish run.
Bullish Momentum and Key Price Targets
However, CasiTrades, another notable cryptocurrency analyst, is closely monitoring XRP's price movements. He emphasizes that successfully completing the golden retracement level of 618 at $2.88 is a crucial threshold for this asset's bullish potential.
According to CasiTrades, this technical threshold could drive XRP toward a resistance target of $3.41, with the potential for a breakout if the price maintains above the support level of $2.88. If XRP can sustain the support level above $2.88, the path toward $3.41 will now be easier.
As the price approaches these key thresholds, analysts are watching to see if XRP can maintain its upward momentum. Breaking through resistance levels like $3.21 and $3.41 will provide further confirmation for the bullish trend.
Institutional Interest in XRP Futures Soars
XRP futures have attracted significant attention on CME, achieving record nominal trading volume of $9 billion. Over 251,000 contracts have been traded, equivalent to about 12 million XRP in the next three months.
According to X Finance Bull, these record numbers indicate growing institutional interest in this asset, even without official ETF approval. Wall Street's involvement in XRP is evident, reflecting increasing confidence in its future.
The increasing participation of institutional investors further reinforces the view that XRP's price could grow significantly. Investors are playing a more active role in XRP, which could drive the value of this coin even higher in the coming months.
