After consolidating within the $2.30 to $2.50 range, XRP's price is poised for a significant movement. Analysts, including Dark Defender, foresee a potential surge, targeting a $5.85 price mark, marking a 129% increase from the current $2.55 level. Additionally, an optimistic target of $8.76 could be reached, representing a 243% rise.
Key support levels for XRP are $1.88 and $2.33, while resistance looms at $2.66 and $3.12. Significant legal developments, such as the SEC's acknowledgment of a Grayscale XRP ETF filing, may act as catalysts for these price movements. The evolving regulatory environment under new SEC leadership might favor constructive actions toward cryptocurrencies.
The potential approval of an XRP ETF could mirror the impact Bitcoin and Ethereum ETFs had last year, enhancing adoption and capital influx. Despite market turbulence, XRP maintains stability at $2.55, after gaining 11% in the last week versus a 17% decline over the previous two weeks.
