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- XRP’s price surge to $2.44 reignites speculation of a potential rally toward $15, driven by technical patterns and market optimism.
- Discussions on a US XRP Reserve raise debates over its viability, with Ripple’s speed and banking partnerships establishing it as a strong competitor.
XRP’s price is on the move, trading at $2.44 after a 2% gain in the past 24 hours. Technical patterns are currently garnering significant interest, with numerous analysts forecasting a potential breakout.
A notable observation points to the formation of a symmetrical triangle, which carries a bullish target of $15.
If this is a symmetrical triangle, $XRP has broken out and is targeting $15! pic.twitter.com/ppJTuRbbp7
— Ali (@ali_charts) February 13, 2025
In addition, some chart analyses reveal expanded flat corrections and intricate wave structures, suggesting that a more substantial movement may be on the horizon, with targets projected around $8 or even higher in the medium term.
Market observers attribute the cryptocurrency’s optimistic outlook to its demonstrated resilience during previous market declines and the low recorded in January 2023, which signified the beginning of a positive trend. If it maintains its upward momentum and successfully breaches key resistance levels, a rapid increase in its price could occur soon.
Could XRP Join Gold in a US Reserve Strategy?
The concept of a crypto reserve in the US, especially with XRP, has been gaining popularity, especially after the Trump executive order on digital financial technology.
Ripple’s founder and CEO have pointed to the speed, low costs, and strategic partnerships with global banks XRP offers as reasons for it to be considered a reserve asset. However, other critics are still skeptical because of XRP’s governance and centralization issues.
Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
If approved, a US crypto reserve could be used as a digital hedge to traditional assets like gold or foreign currencies. Additionally, Ripple’s technology, notably its Interledger Protocol and collaboration with financial institutions, further confirms XRP’s ability to improve global trading.
Legal and Regulatory Developments Loom
The demand for legal clarification has a huge impact on XRP’s future path. The ongoing dispute between Ripple and the SEC remains a crucial aspect, but recent changes in the SEC’s leadership may signal a shift in the approach to cryptocurrency regulation.
Furthermore, the formation of a Crypto Task Force and the suspension of several crypto-related court procedures indicate a potential change toward a more liberal approach or a rethink of the facts underlying Ripple’s case.
2017 Price Pattern Hints at a 1500% Surge
Despite this, analyst EGRAG CRYPTO suggests that XRP could experience a remarkable increase of 1500% in its value, drawing comparisons to previous price trends.
EGRAG highlighted the significance of the Bull Market Support Band as a key indicator for analyzing the market trajectory of XRP. He pointed out that the cryptocurrency is now trading above this zone, which has often signaled the start of strong bullish periods.
The analyst also referred to the cryptocurrency’s price behavior in 2017, when the token reached the “Purple Foundation” level, returned to the BMSB, and subsequently surged by 1500% within a mere four weeks.
He believes that the cryptocurrency’s present cycle resembles this previous pattern, hinting at a possible ascent towards the Fibonacci 1.618 level, which would place the token around $27. This optimistic outlook is based on XRP’s recent low of $1.71, suggesting considerable upward potential if the current trend mirrors that of 2017.
The analyst perceives XRP as being in the initial phases of its final bullish waves, anticipating swift advancements. Nonetheless, he cautions about the risks of reversals near resistance levels and advises purchasing during market corrections.
