XRP's Technical Setup Suggests a Possible $3.00 Goal, with Support Remaining Intact
Post-TLC (That's What They Call It)
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Collapse* XRP's current price floats around $2.21, with solid support at the $2.20 mark* Ripple's $5 billion bid to buy Circle (USDC issuer) was turned down as the latter aims for an IPO* Experts anticipate significant price jumps, with projections ranging from $10 to as high as $55* SEC pushes back its judgment on Franklin Templeton XRP ETF application until June 17* Bloomberg ETF analyst boosts XRP ETF approval probability to 85% by Q4 2025
XRP's price is currently consolidating around $2.21, as the cryptocurrency market maintains a standstill. The digital asset has formed a robust support system at $2.20, aligning with the 50- and 100-day Exponential Moving Averages (EMAs). This technical constellation has analysts keeping an eye out for a possible move towards $3.00 in the near future.
These current price fluctuations follow a mixed phase in recent months. After hitting a seven-year peak of $3.30 in mid-January, XRP faced a downward slide, dropping 29% in February and an additional 2.58% in March.
April, however, displayed more prominent signs of recovery, although the price has remained within the $2 range. Numerous market observers view this consolidation as a potential trampoline for future advancements.
The technical forecast seems positive. The Moving Average Convergence Divergence (MACD) indicator has crossed above the mean line, accompanied by green histograms. This buy signal was sparked when the MACD line crossed above the signal line on April 11.
Traders are closely monitoring crucial resistance levels at $2.50, $2.80, and $3.00 for potential breakout confirmations.
While the outlook remains optimistic, caution remains prudent. A rejection from the $2.20 support could trigger increased volatility and deeper declines, possibly testing the 200-day EMA at $1.98 or even April's low of $1.61.
Great Guilders' Guesses
Some analysts have put forward audacious price predictions for XRP.
Market analyst EGRAG Crypto has discovered a macro channel pattern on XRP's monthly chart, which hints at a potential surge to $17 in May 2025. This prediction stems from a six-candle pattern that XRP appears to be imitating from its 2017 bull run.
According to EGRAG, XRP has completed five of these candles since November 2024, positioning XRP for a potential "mega monthly candle" in May 2025 that could propel prices by 672% from their current levels.
Even more optimistically, EGRAG suggests a break of the macro channel's upper boundary could trigger another upward spike to $55, representing a 223% increase from the $17 target.
Other analysts, like Cryptollica, have unearthed a two-week chart pattern hinting that XRP may be exiting a multi-year compression zone—similar to the pattern before its last parabolic surge. This layout suggests the potential for a move to the $9–$10 range if the $1.95 level acts as a trigger zone.
ETF Hellzapoppin'
A major catalyst for XRP's price could stem from regulatory advancements, especially regarding XRP ETF approvals.
The SEC recently delayed its judgement on the Franklin Templeton XRP ETF application, moving the decision date to June 17. However, Bloomberg ETF analyst James Seyffart has pumped up the probability of final approval to 85% by the final quarter of 2025.
Seyffart suggests that the current delay is procedural and that the SEC could potentially act before the final October deadline. The newly appointed SEC Chair Paul Atkins might expedite approval.
The XRP lawsuit is also predicted to reach its conclusion within the year, eliminating a significant barrier to XRP-based ETFs in the United States.
International XRP ETF products are already showing promising results. Teucrium's leveraged XRP ETF has attracted $55 million in net assets within its first month of trading, while a Brazil-listed Ripple ETF has also sparked investor interest.
XRP bulls have seized control after a minor slip from $2.30, with XRP trading within the upper Bollinger Band range, indicating ongoing buying pressure.
As of May 1, 2025, XRP trades at $2.23 with the Relative Strength Index at 56, indicating moderate momentum. If XRP holds above the middle Bollinger Band, the next resistance lies at $2.61.
Ripple's recent business ventures indicate its ambition to expand its market presence. The company made an effort to buy Circle, the issuer of the USDC stablecoin, for around $5 billion. This acquisition would have swiftly increased Ripple's stake in the stablecoin market, which it entered in 2024 with the launch of Ripple USD (RLUSD).
However, Circle declined the offer, stating that it planned to go public via an IPO. The stablecoin company has already filed the necessary papers in the United States.
This attempted acquisition follows Ripple's acquisition of Hidden Road, a brokerage firm, for $1.25 billion on April 8 — Ripple's largest acquisition to date.
The current price of XRP stands at around $2.21, becoming steadfast at the $2.20 mark, which aligns with the 50- and 100-day Exponential Moving Averages (EMAs). Because of this technical arrangement, analysts are speculating potential price rises towards $3.00.
Marshalling optimism, some analysts believe the price of XRP may surge to $17 by May 2025, driven by a six-candle pattern mimicking a previous bull run. Should the macro channel's upper boundary be broken, the price could surge to $55, representing a further increase from the original prediction.
While the SEC's decision on the Franklin Templeton XRP ETF application is delayed until June 17, James Seyffart, a Bloomberg ETF analyst, has amplified the probability of approval of this ETF by the final quarter of 2025 up to 85%.
This rejection from big companies like Circle, aiming for an IPO, and Ripple's pursuit of acquisitions like Hidden Road, for $1.25 billion, reflects the company's deepening involvement in the finance technology industry.
In the face of these technical and financial factors, investors must remain cautious as a rejection from the $2.20 support could trigger increased volatility and deeper declines, possibly testing the 200-day EMA at $1.98.
