Category: Crypto News, News
Sitting at $2.90 as Major Breakout Nears
The price of XRP is holding steady on Wednesday morning. The token is trading in a tight range near $2.90. This comes after a period of short-term weakness. However, the long-term outlook for XRP remains strong. Analysts are issuing bullish forecasts following Ripple’s recent regulatory victory.
XRP Price Analysis for August 27
Today, XRP is trading between $2.83 and $3.17. The token shows a 4% decline over the past week. This contrasts with a 33% gain over the last six months. This price action suggests a period of healthy consolidation.
The immediate resistance level for XRP is $3.32. A break above this could open a path toward $3.66. Key support rests at $2.63. The market is waiting for a catalyst to trigger the next major move.
Analysts Target New Highs After SEC Clarity
Recent legal clarity from the SEC dispute has sparked optimism. Prominent analysts are now predicting significant price milestones. One analyst, EGRAG Crypto, suggests XRP could reach $27 in this bull cycle. This forecast uses Fibonacci extension levels as a guide.
Other estimates are more conservative. Analyst Crypto Rover suggested a range of $3.20 to $4.80. Regardless of the target, the consensus is positive. Many believe regulatory certainty has removed a major barrier to growth.
Fundamental Drivers Behind XRP’s Outlook
Several key factors support XRP’s long-term value. Ripple’s cross-border payment network, RippleNet, is expanding. It now serves over 90 markets worldwide. This increases XRP’s real-world utility.
Institutional adoption is also a key driver. The recent launch of Ripple’s RLUSD stablecoin provides a regulated on-ramp for large investors. This makes it easier for institutions to use Ripple’s payment corridors.
What to Watch: ETF Decision Looms
The next major catalyst for XRP could be a spot XRP ETF. The SEC is expected to make a decision on approval by mid-October 2025. An approval would open new demand from retail and institutional investors. However, challenges remain. XRP’s use in decentralized finance (DeFi) is still low compared to its high market cap.
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