The XRP price forms a symmetrical triangle pattern, indicating a possible breakout in line with last year's bullish trend.
Teucrium’s XXRP ETF nears $160 million in assets, reflecting steady investor demand despite a high expense ratio.
Ripple's RLUSD stablecoin growth and corporate adoption enhance market confidence and support long-term price strength.
On July 4, Ripple’s XRP price stood at $2.2378, down slightly by less than 1% from the previous day. Despite remaining within a narrow trading range in recent weeks, market indicators now point to a possible breakout. The price has been consolidating around this level as technical and fundamental factors align.
Based on technical analysis, XRP in the last few months has established a symmetrical triangle value. The decreasing distance between moving averages is an indication that a breakout is imminent. Such patterns normally result in a powerful adoption movement in the guideline of the previous trend. XRP gained almost 500% during November, and the present position seems to be in the form of a bullish pennant. Should the breakout be the affirmation of the upward momentum, then the token might reach the year-to-date high at $3.4.
$3.4 Price Level Seen as Next Target for XRP Traders
A move toward the $3.4 level would represent a 50% increase from the current price. Further strength above that level could push the token toward the psychological resistance at $5. However, a drop below the key support level of $1.6147 would invalidate this forecast and open the possibility of a decline below $1.
Investor demand for leveraged XRP exposure continues to grow. The Teucrium 2X Long Daily XRP ETF (XXRP) has recorded consistent weekly inflows since its April launch. The fund is approaching the threshold of 160 million dollars of funds under management, which means growing institutional attention. With a rather high expense ratio of 1.89%, investors still invest, meaning that they have confidence in the outcome of XRP.
Spot XRP ETFs Could Follow if Demand Remains High
The fund’s inflows come even as its performance lags the underlying asset. While XXRP has gained around 15% since its inception, XRP has risen by 24%. Market analysts expect that future spot XRP ETFs, if approved, could attract as much as $8 billion in inflows within their first year, further driving XRP demand.
The RLUSD market cap is now approaching $500 million, adding another layer of support to Ripple’s ecosystem. Increased use by companies integrating XRP also strengthens the case for upward price action.
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