XRP is approaching a pivotal moment, with both technical and fundamental indicators suggesting a possible strong move toward $10. This projection comes just days before a key deadline – June 16, when the SEC is expected to provide an update in its legal battle with Ripple Labs. Meanwhile, XRP is trading at $2.29, up nearly 1% in the last 24 hours, and trading volume has surged from $350 million to $2.46 billion.
Bull Flag Pattern Suggests a Breakout to $10
Over the past seven months, XRP’s price has formed a textbook bull flag pattern. The previous 586% rally, from $0.49 to $3.37 between November 2024 and January 2025, serves as the flagpole. Since then, the price has consolidated within a downward-sloping channel, forming the flag.
This setup typically signals continuation of the prior trend. If XRP can break above the upper boundary of this channel, the projected target is $10. Furthermore, the 161.8% Fibonacci extension of the prior rally points to a potential high at $11.09, reinforcing the bullish outlook.
Key Catalysts to Watch
Several developments are fueling the bullish sentiment:
🔹 Ondo Finance launched tokenized U.S. Treasuries on the XRP Ledger.
🔹 Ripple partnered with investment giant Guggenheim, which lawyer Bill Morgan called a “major win” for the ecosystem.
🔹 The SEC is set to submit a case update to the court by June 16, which could mark a turning point.
Network Activity Surges – Retail Steps In
A 1,609% spike in daily active addresses (DAA) was observed on June 10, indicating a potential surge in investor interest. According to market analysts, this increase may reflect growing retail FOMO or institutional accumulation. The rising transaction count also points to accelerated adoption of the XRP Ledger, particularly following Ripple’s expansion in Japan through its recent partnership with Web3 Salon.
Whale Accumulation Signals Confidence
According to Santiment, two major investor groups – wallets holding 1–10 million XRP and 10–100 million XRP – have significantly increased their holdings:
🔹 1–10M XRP wallets added 2.45 billion tokens since November 2024.
🔹 10–100M XRP wallets accumulated 890 million tokens in the last four months.
These whales historically accumulate during consolidation and take profits on uptrends, reinforcing mid-term confidence.
Summary: XRP at a Crossroads
XRP is approaching a decisive point. A confirmed breakout above the upper trendline of the bull flag could pave the way to $10. However, a drop below $1.61 may lead to a retest of $1.28.
The June 16 SEC update is expected to be a major driver.
Traders should monitor:
🔹 Surging volume
🔹 Changes in open interest (OI)
🔹 Large holder activity
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