Analyst sees XRP course double: rise to $ 5 possible

XRP shows signs of power again. While many eyes are focused on Bitcoin and Ethereum, the coin moves in silence within a stable rising channel. That technical pattern, in combination with growing fundamental support, feeds the expectation that XRP may be preparing for a major outbreak.

According to analyst Rocksorgate, the course could even double in the coming period.

Technical pattern remains Bullish

On May 15, XRP peaked briefly above $ 2.50 and reached a highest point of $ 2.59. In the meantime, the rate has fallen a bit to $ 2.41, but with a plus of 4.5% on a weekly basis, the momentum remains on the positive side.

According to the analyst, XRP moves in a parallel rising channel, formed by higher tops and bottoms. This structure suggests a continuing upward trend, whereby the top of the channel offers space for a price target between $ 3 and $ 5 in the coming months.

A crucial zone to keep an eye on is between $ 2.42 and $ 2.45. This price range acts as strong support and is also confirmed by important Fibonacci retracement levels. As long as XRP remains above this support, a new upward movement is probably. A breakthrough back above $ 2.50 would further strengthen that trend.

Fundamental developments remain positive – despite legal setbacks

There is also optimism on a fundamental level. For example, it is growing that the American SEC will soon approve a spot ETF for XRP-especially now comparable products for Bitcoin and Ethereum have already been admitted.

Earlier, Ripple Labs and the SEC reached a settlement of $ 50 million with regard to certain parts of the case. Although that deal was rejected by the judge today for legal imperfections, the lawsuit nevertheless seems to have taken its final phase. For investors, that is an important signal that decreases the uncertainty around XRP.

Moreover, the recent partnership between Trump Media & Technology Group and Crypto.com, aimed at Exchange-Traded products, is seen as proof of increasing institutional interest in crypto. XRP could benefit from this, especially if the legal file will soon be closed.