XRP Price Prediction: Can ETF Approval Trigger $15 Rally?

XRP Price Prediction: Will ETF Filing Spark a Price Explosion?

CME Hints at XRP Futures Launch by February 10

The Chicago Mercantile Exchange (CME) has suggested on its website that XRP futures contracts might be launching as early as February 10, subject to regulatory approval. Meanwhile, the XRP chart shows a prolonged consolidation phase, potentially signaling that a major move could be on the horizon.

XRP’s Historical Consolidation and Breakout

From late 2013 to early 2017, XRP is consolidated near 1,170 days. This period eventually led to a massive surge, pushing its price to a high of around $3.30. This time, XRP has recently broken out of a consolidation phase that lasted more than twice as long, hinting at the potential for another significant move.

XRP Breaks Triangle Pattern, Analyst Predicts $15 Rally

As per Ali Martinez, On 16th January, XRP breached the triangle pattern which was followed by late 2018 to 16th January. Besides, he predicted that this setup indicates a potential rally towards $15 in near terms. 

TD Sequential Indicator Flashes Sell Signal

Additionally, the TD Sequential indicator recently flashed a sell signal on XRP's daily chart! After a breakout rally, XRP Price form a high near $3.40, which is just away from 4% form All-time high. 

What’s Next for XRP?

On the hourly chart, XRP is trading inside the consolidation zone. The support is seen near $2.90 and the resistance is seen near $3.35. A break on either side will decide the rally for XRP in near terms. If XRP ETF gets approval then XRP can reach $10-$15 in the short term. 

Source: Tradingview

According to analysts, XRP's future largely hinges on the approval of an ETF. The big question is whether it will surge to $15 or drop back to $1. However, analysts remain optimistic about XRP, noting that the price is currently trading above its established pattern.