TLDR
- Since 2018, XRP has been tracing a symmetrical triangle on the charts, now suggesting it might break this formation, possibly surging up to $15.
- Interest in XRP is climbing, as evidenced by more than 6.87 million wallets now holding the cryptocurrency—an all-time peak.
- Ripple moving 200 million XRP worth about $457 million has triggered speculation about strategic financial maneuvers behind the scenes.
- The SEC considering a commodity status for XRP, akin to Ethereum, could pave the way for easier ETF approvals.
- Despite the recent 8% drop following a pause in the SEC's approval process for altcoin ETFs, the derivatives market still looks bullish.
XRP, linked with Ripple, has been undergoing frequent price shifts attracting scrutiny from both investors and market analysts. Recently, it saw a decline of 8%, settling at roughly $2.30 on March 16, 2025, after a consecutive four-day rise.
XRP Price
Ripple is locked in a legal tussle with the SEC, casting a shadow over XRP’s price trends, yet the cryptocurrency community remains optimistic about its future.
Prominent crypto analyst Ali Martinez has spotted a telling pattern that might hint at an imminent price hike for XRP, after breaking out of a symmetrical triangle chart pattern started in 2018.
This is why $XRP can still reach $15! pic.twitter.com/vkIiR0rnpU
— Ali (@ali_charts) March 14, 2025
Growing Wallet Numbers
Examining the spike in XRP wallets—which have now hit a record of 6.87 million—suggests growing engagement and potential interest.
The recent transfer of a substantial 200 million XRP by Ripple, circulated to equate around $457 million, has sparked speculation on whether strategic positioning is underway.
SEC Lawsuit
The SEC's lawsuit remains a crucial influence, with recent indications that they might label XRP as a commodity during settlement talks. They are eyeing Ethereum's regulatory handling as a possible reference.
Gaining a commodity label instead of being viewed as a security could eliminate certain regulatory blocks, enhancing XRP's ETF potential and thus stirring institutional interest.
The SEC’s latest move to pause the approval process for altcoin ETFs seems linked to the recent XRP price drop of 8%, affecting others with active ETF bids.
Even with the price downfall, derivatives market data suggest that bullish vibes are lingering. According to Coinglass stats, XRP's trading volume has perked up by 12.11%, totaling $6.05 billion. This activity indicates sustained market interest.
Over a 24-hour period, liquidations accounted for $11.58 million; with longs making up $8.98 million and shorts $2.60 million. This skew suggests short sellers might be pressured if prices stabilize, prompting a potential bounce back.
XRP’s open interest dipped 6.70% to $3.14 billion, signaling an unwinding of leverage. Some market observers regard this as a clue that the ongoing correction might soon conclude.
The technical landscape shows the RSI—standing at 47.49—teetering in neutral territory. Its recent ascend from 40 signals budding bullish momentum; an RSI lift above 50 could fortify the case for further gains.
Word is that Ripple has trademarked 'RIPPLE CUSTODY,' possibly hinting at a new foray into crypto storage solutions. This move presages a spark of investor interest in the near future.
Fed Meeting
The upcoming Federal Reserve meeting scheduled for February 19 looms large and could sway broader market sentiment. Should a dovish policy hint emerge, it might boost risk appetite, proving beneficial for XRP and other cryptos.
If XRP stabilizes near the $2.30 mark, bullish movements could resume and elevate its price toward $2.50 short-term and possibly beyond $2.80. Yet, failing to uphold this support could spiral its value down, testing the $1.92 mark.
Significant resistance points to keep an eye on are $2.57 and $2.92. Surpassing these could unlock new price territories, but losing grip on $2.30 support might exacerbate selling tendencies.
