XRP Approaches Breakout as Analysts Highlight Bullish Patterns and Rising Institutional Interest

Key Points

1. XRP is trading at $2.93, down 3% in 24 hours, but analysts highlight a bullish ascending triangle pattern suggesting potential upward momentum.

2. Japan’s SBI Holdings, managing $241 billion in assets, has filed for a Bitcoin-XRP ETF, which could drive institutional demand if approved.

3. Analysts identify $3.66 as a critical resistance level; breaking it could push XRP toward $4.

4. The outcome of the Ripple vs. SEC lawsuit, with a potential dismissal by August 15, could boost investor confidence and regulatory approvals for XRP.

5. Rising trading volumes and utility-driven momentum are strengthening XRP’s case for a breakout, independent of broader market trends.