Three big catalysts for a potential XRP price boom include technicals, significant whale accumulation, and the nearing resolution of Ripple’s legal battle with the SEC.
The XRP (XRP) market is well-positioned for a price surge between now and October, driven by a potential breakout on the charts, whale activity, and the end of Ripple’s legal battle with the SEC. In doing so, the XRP/USD pair could finally see values near or above $1, a level it hasn’t attained since 2021.
XRP’s weekly chart reveals a symmetrical triangle pattern that has been forming since early 2018, characterized by converging trendlines that compress price action.
The cryptocurrency is testing the pattern’s upper trendline resistance, eyeing a successful breakout to pursue a run-up toward the next major resistance level at around $1 in the coming months. Howver, it would need to cross above $0.86—up around 45% from the current prices—which has historically acted as a significant barrier, most notably in January-March 2022 and July 2023.
