key takeaways:
XRP (XRP) shows signs of a potential 35% breakout as bullish technicals align with new fundamentals, including Ripple CEO Brad Garlinghouse’s renewed push for an “Internet of Value” vision for the blockchain company.
XRP price maintained a key support level
XRP’s price chart technicals indicate that it has bounced off the lower trend line of its prevalent ascending triangle pattern. That support has marked the beginning of historically powerful rebound moves, including a 70-80% jump in early 2025.
By Saturday, the token had jumped more than 8% after testing the trendline, as well as aligning with the 50-week exponential moving average (50-week EMA, represented by the red wave) at $2.33.
If history is any indicator, XRP could move towards the triangle’s upper trendline around $3.45 by December, which is 35% above current levels.
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Conversely, a break below the triangle’s lower trend line could take the price to June lows around $1.65, which is 25% below current levels.
Ripple Prime boosts XRP bullish case
Ripple’s extended institutional strategy adds a strong fundamental tailwind to XRP’s bullish setup.
The company announced on Friday that it has finalized the acquisition of Hidden Road, while renaming it “Ripple Prime.” It becomes the first crypto company to operate a global, multi-asset prime broker incorporating existing institutional clients. Ripple wrote in the announcement:
“Ripple’s foundational digital asset infrastructure in payments, crypto custody and stablecoins, as well as the use of XRP, will complement the services offered within Ripple Prime.”
CEO Brad Garlinghouse called the deal another step toward creating an “Internet of Value,” emphasizing that “XRP sits at the center of everything Ripple does.”
Most analysts expect XRP to extend its gains after taking support from Garlinghouse.
One of them is trader Credibull Crypto, who said that Ripple’s huge XRP holdings give it every incentive for the token’s success, as the company stands to benefit the most from the high valuation.
The comments also come as Ripple announced its intention to purchase $1 billion in XRP tokens for a new treasury on Nasdaq under the ticker “XRPN.”
Trader Zierman Trading said XRP could cross the $3-mark due to Ripple’s Hidden Road deal, noting that the token “now sits at the center of institutional adoption.”
This article does not constitute investment advice or recommendations. Every investing and trading move involves risk, and readers should do their own research when making decisions.