XRP Mirrors 2017 Bull Cycle, Analysts Eye $20 Amid Institutional Inflows
XRP Experiences Renewed Institutional Interest
- XRP is trading in the $2.50–$2.70 range, with potential for a new upward trend driven by ETFs and treasury flows.
- A recent XRP-exposure vehicle has attracted over $115 million, with futures market volumes reaching billions.
- Corporate treasuries and acquisition firms are increasingly investing in XRP, potentially leading to supply constraints and increased scarcity dynamics.
Technical Analysis Mirrors 2017 Bull Cycle
- Analysts see similarities between XRP's current technical structure and its 2017 bull cycle, suggesting a possible move to double-digit prices.
- Support remains strong around the $2.50–$2.60 band, with potential momentum if resistance at $2.67–$2.70 is breached.
- Caution advised due to possible short-term pull-backs unless volume increases significantly.
Key Levels to Monitor
- A breakout above $2.70 could pave the way to $3 and higher, while a drop below $2.50 might indicate consolidation.
- Institutional flows, ETF approvals, and activity on the XRP Ledger will be crucial in setting the next major price movement.
