For example, a potential resolution of the ongoing legal battle between the SEC and Ripple under the Trump administration could pave the way for the approval and launch of XRP exchange-traded funds (ETFs) in the US.
Analysts at JPMorgan predict that such ETFs could bring in $4 billion to $8 billion in capital inflows. Meanwhile, Ripple announced the launch of RLUSD, a stablecoin aimed at improving liquidity within the XRPL ecosystem, which adds utility to XRP.#CrypoReboundStrategy
These solid fundamentals could pave the way for XRP/BTC to continue rising in the coming weeks, even if it becomes overbought.
XRP Price Technicals Indicate 100% Gains
In this bullish scenario, the next upside target is likely to be the 0.236 Fibonacci retracement line, aligning with the 6,471 satoshis level (1 satoshi = 0.00000001 BTC). This represents an increase of around 100% when measured from current price levels.
XRP/BTC also broke out of its eight-year symmetrical triangle pattern to the upside, reinforcing the bullish outlook presented by its 2017 fractal and accompanying fundamentals.
On the other hand, XRP’s inability to break above its predominant resistance area, defined by the 1,950-3,550 satoshis range (in red on the chart above), could invalidate the bullish setup discussed above.$XRP
This article does not contain investment advice or recommendations. Every investment and trading decision involves risk, and readers should conduct their own research when making a decision.
