ETF Demand Fuels Price Surge Potential
Analyst Chad Steingraber has predicted that XRP could experience a significant price increase, potentially moving from $2 to $10 in less than a year. This optimistic outlook is supported by strong early demand for newly launched XRP exchange-traded funds (ETFs) and favorable technical chart patterns.
Key factors contributing to this forecast include:
- •XRP ETFs have absorbed over 506 million XRP in less than a month, indicating substantial investor interest and supporting a potential $10 price target.
- •Two prominent chart patterns suggest potential upside targets in the $14–$15 range.
The launch of XRP ETFs in November has been a significant catalyst. These investment products have attracted over $944 million worth of XRP since their debut on November 13. Currently, these ETFs hold approximately 0.74% of all XRP in circulation, a notable achievement for funds that have been active for less than a month.
Furthermore, XRP has been incorporated into the Bitwise Crypto 10 Fund ETF (BITW), which launched with over $1.25 billion in assets. XRP constitutes 5% of this fund's portfolio. Steingraber estimated that the Bitwise Index 10 holds approximately 30,718,290 XRP. He stated, "That puts the total at 506,067,267 XRP taken into AUM since the launch of the funds. Not even a month in yet."
Drawing parallels with Bitcoin's performance after its US ETF debut, Steingraber noted that BTC doubled in value within two years. He believes XRP has similar potential for rapid growth. If ETF inflows continue to increase, XRP could reach the $10 mark by 2026, representing a substantial 400% increase from its current trading levels.
Technical Analysis Supports Bullish Outlook
Beyond ETF demand, technical indicators on XRP's charts also align with a bullish trajectory. On the two-week chart, XRP has entered the breakout phase of a multi-month symmetrical triangle pattern. This pattern, often seen after periods of consolidation, typically signals a continuation of the existing trend.
A breakout above the upper trendline of this triangle suggests that buyers are regaining control of the market. The measured move from this pattern indicates a potential target of $14 to $15 in the upcoming months.
Adding further support to this price range is a second technical setup observed on higher time frames. XRP appears to have formed a bull flag, a classic continuation pattern that follows a strong upward price movement and subsequent consolidation in a downward-sloping channel.
The projected move from this bull flag pattern also points towards the $14 to $15 region, reinforcing the targets derived from the symmetrical triangle. Confirmation of a breakout above the bull flag's resistance level would solidify this bullish outlook.