Technical analysis indicates XRP has broken out from a long-term bullish flag formation, accompanied by a significant 23.58% weekly price surge. This pattern signals renewed positive momentum with price stabilizing around $3.55, establishing what analysts identify as a strong support zone.
The breakout suggests potential upward movement toward a $15 price target, bolstered by robust on-chain activity and supportive technical indicators. Regulatory developments, including possible SEC approval of an XRP exchange-traded fund, present additional catalysts that could accelerate price growth.
Market sentiment remains divided about the $15 projection despite supportive fundamentals. Analysts note future growth potential while advising caution regarding possible market corrections and ongoing regulatory uncertainties affecting XRP’s trajectory.