- XRP price rose 3% in the past day and is trading over $3, up 17% from its September 1 low.
- Technical patterns suggest potential XRP price targets between $5 and $15 according to market analysts.
- The REX-Osprey XRP ETF ($XRPR) launches on U.S. exchanges, becoming the first U.S. spot XRP ETF.
- The ETF launch follows a 75-day SEC review without objection, opening new opportunities for institutional investment.
- Ripple’s new partnerships with DBS Bank and Franklin Templeton are expected to boost XRP’s real-world use and demand.
XRP gained 3% in the last 24 hours and is now trading above $3, a 17% rise since dropping to $2.69 earlier this month. This increase comes as new technical signals and major product launches bring renewed attention to the digital asset.
According to analysts, XRP has formed bull flag patterns on its price charts. These patterns can indicate continued upward trends, with some projections pointing to future targets as high as $5.8 and even $15.8. The asset recently broke out above $3, with these technical formations confirmed by several market trackers.
Analyst Crypto Pulse noted, “$XRP could be gearing up for its next big breakout toward $5+”, referencing the bull flag pattern seen since late August. Another analyst, Egrag Crypto, highlighted a fractal formation, stating, “Based on the fractal formation analysis, it suggests that by mid-November, #XRP could be around $6 to $7!”.
In a significant development for institutional investors, the REX-Osprey XRP ETF ($XRPR) began trading on U.S. exchanges after clearing a 75-day review by the SEC without objections. This fund is the first U.S. spot ETF to give investors regulated exposure to XRP. The ETF launched under the Investment Company Act of 1940, which enabled a streamlined approval process.
ETF Store president Nate Geraci commented in an X post that futures-based XRP ETFs have already approached $1 billion in assets, suggesting strong investor demand for spot products.
In addition, Ripple recently announced partnerships with DBS Bank and Franklin Templeton to launch a tokenized money market fund on the XRP Ledger. This initiative is expected to increase XRP’s real-world utility and network activity, potentially supporting future price gains.
This article does not contain investment advice. Investors should conduct their own research before making any trading decisions.
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