XRP is currently consolidating around the $2.05-$2.14 price range, struggling to maintain its position above the $2 psychological level
Technical analyst Cryptominder predicts XRP could reach $50 by 2030, representing a 2,339% increase from current prices
The SEC-Ripple legal battle is approaching resolution with a 60-day pause in appeals to finalize settlement negotiations
Multiple fund managers have applied for XRP ETFs with deadlines approaching in May, potentially bringing in $8 billion in institutional investments
Technical indicators show early bullish signals, with analysts predicting a potential rally to $6 if XRP breaks the $2.24 resistance level
XRP, the digital asset created by Ripple Labs, is currently trading around $2.05-$2.14, struggling to maintain its hold above the critical $2 psychological level. Despite recent volatility, technical analysts remain bullish on the cryptocurrency’s long-term prospects, with some predicting a potential surge to $50 by 2030.
The cryptocurrency experienced a sharp 17% drop between April 6 and April 8, falling to $1.79, its lowest point in five months. However, XRP quickly rebounded with a 14.33% spike the following day, recovering the $2 territory. Since then, the price has been consolidating around this level.
Technical analyst Cryptominder has expressed strong confidence in XRP’s future performance. He believes the digital asset has the potential to reach $50 within the next five years. This target would represent a 2,339% increase from current prices, requiring approximately 90% annual growth.
Cryptominder points to XRP’s 237% price increase last year as evidence that such growth is achievable. He also reminded investors of similar cautious sentiment when XRP traded at just $0.09 and $0.35, noting how those who invested at those prices have seen substantial returns.
In 5 years from now $XRP will be over 50$ price. Today is the day you will remember. You will say to your friends that we never believed in XRP when it was 0.09$ we never believed at 0.35$ we never believed at 2$. I buy this XRP you are not. I bought at these prices!
A major factor influencing XRP’s price outlook is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Recently, a U.S. appellate court granted a joint request from both parties to hold appeals in abeyance for 60 days, allowing them to conclude settlement negotiations.
This development suggests the case may be nearing resolution. Ripple CEO Brad Garlinghouse has confirmed that settlement talks are at an advanced stage, awaiting the Commission’s vote. Reports indicate that Ripple could pay a fine of $50 million, significantly lower than the $125 million penalty imposed by Judge Analisa Torres in August 2024.
The market is also watching the upcoming leadership change at the SEC. Paul Atkins, President Trump’s nominee who was approved by the Senate on April 9, is expected to take over the agency soon. Atkins has promised to prioritize creating a clear regulatory framework for digital assets, which could accelerate resolution of the SEC-Ripple case.
ETF Prospects Boosting Investor Sentiment
Another catalyst for potential XRP price growth is the prospect of exchange-traded funds (ETFs) based on the cryptocurrency. Multiple fund managers have submitted applications for XRP ETFs, with some deadlines approaching in May.
Experts at Kaiko Research believe XRP ETFs have a higher approval chance than other altcoins like Solana and Cardano. According to JPMorgan analysts, approval of a Ripple spot ETF could bring in over $8 billion in institutional investments, potentially driving XRP’s price significantly higher.
Teucrium’s recently launched leveraged XRP ETF has already attracted $27 million in assets, demonstrating growing institutional interest in XRP-based products. This increasing interest strengthens the case for potential ETF approval, which could provide a strong catalyst for price appreciation.
Technical Indicators Point to Potential Breakout
From a technical analysis perspective, XRP shows signs of a possible breakout. The cryptocurrency is currently trading between key support and resistance levels. According to crypto analyst Casitrades, XRP appears to be finishing Wave 2 of its Elliott Wave pattern, which could signal a shift toward bullish momentum.
Key support levels have formed at $1.90 and $1.55, where XRP has shown resilience in recent weeks. For a sustained breakout, XRP needs to break and hold above the $2.24 resistance level, which represents the 0.382 Fibonacci retracement.
Technical indicators are providing early buy signals. The MACD histogram is green, and the MACD line has crossed above the signal line, indicating increased buying pressure. The Relative Strength Index (RSI) remains in the middle range, suggesting room for price appreciation if buying momentum continues.
XRP’s price is receiving support from the 200-day Exponential Moving Average at $1.96. A break above the confluence resistance formed by the 50-day and 100-day EMAs around $2.22 would reinforce the bullish outlook.
On the exchange front, inflow volume for XRP has dropped by 96% from over 2 billion on April 4 to approximately 77 million XRP on Thursday. This decrease in exchange inflows reduces potential sell-side pressure and suggests investors are holding onto their tokens in anticipation of higher prices.
However, there has been a recent increase in exchange inflows, with more than 55 million XRP moved to exchanges, which could create short-term selling pressure. Traders should remain vigilant, as the RSI in the daily chart is stuck below the center line and gradually dropping toward the oversold region.
The resolution of the SEC-Ripple lawsuit and the Commission’s decision on XRP ETFs will likely have a major impact on the direction of XRP’s price in the coming weeks and months. For now, the market appears to be in a holding pattern, waiting for clarity on these key developments.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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