XRP Nears Key Accumulation Zone, Setting Stage for Potential Rally
Analysts believe XRP is approaching a crucial accumulation zone, which could spark an upward trend.Analyst Dom highlighted that XRP is filling a “liquidity void,” correcting a price inefficiency from late November. This places XRP in a tight range between $1.50 and $2.00.
The $2 mark is a notable resistance level. Breaking above it could signal a shift in market structure, potentially ending the current downtrend. Currently, XRP is trading at $1.80, down 3.3% in the past 24 hours, with a market cap of over $104 billion.
Several bullish factors are fueling optimism for XRP. The launch of Teucrium’s leveraged XRP ETF (XXRP) is a major milestone. It offers double daily returns on XRP, attracting institutional investors and legitimizing Ripple-based products in traditional markets.
The SEC’s decision to drop its appeal and settle the Ripple case with a $50 million penalty has removed regulatory uncertainty. This has sparked renewed interest from firms like Franklin Templeton and Bitwise, who are now pursuing spot XRP ETFs.
On-chain metrics also support a bullish outlook. Data from Santiment shows steady accumulation by large wallets, indicating strong conviction among investors. The MVRV Z-Score has dropped to 1.43, suggesting XRP is undervalued and primed for a rebound.
Analysts at crypto.news predict $2 as the next target for XRP. Standard Chartered has set an even higher target of $5.5 by year-end. However, Trader Chetan Gurjar believes XRP is in a correction phase, with possible bottom zones around key Fibonacci levels.
Despite the correction, Gurjar sees long-term potential, with targets ranging from $8 to $12, and possibly as high as $23 to $30 during the next major cycle.
