XRP price has been showing signs of recovery since yesterday. Over the last 7 hours, the crypto has gained 8% in value. It even hit a high of $2.57 yesterday before setting at $2.50.
It has also surged in trading volume, recording over 25% to $7.6 billion. On top of that, XRP Futures Open Interest jumped by 15% to $3.76 billion, meaning more traders are betting on the coin’s future.
Meanwhile, crypto analyst Gert van Lagen thinks this is just the beginning. In a recent post on X (formerly Twitter), he predicted that XRP could shoot up to $38. He said the price is “bouncing off the neckline of a 7-year-old Double Bottom/Ascending Triangle pattern.”
According to him, this setup signals a parabolic continuation, meaning XRP could take off in a massive bull run. “It’s just a matter of time before the next breakout,” he wrote
This is just a few hours after Ripple CEO Brad Garlinghouse announced that the lawsuit battle with SEC is now over. The case has been ongoing for a long time and has been hanging over XRP. So the excitement from the news is pushing the price higher.
To make things more interesting, another analyst EGRAG CRYPTO also added his own prediction. He believes the price could reach $27, but he also warns that investors need to be patient.
He said if the price stays above $2.9, it could first jump to $8 before going to a higher target. He believes XRP is in a strong bullish trend, which means the price is more likely to rise.
At the same time, XRP is getting more investors’ attention. For instance, the crypto exchange Bitnomial has recently launched an XRP Futures Contract, allowing traders to place bets on XRP’s future price. This kind of investment product usually brings in more traders and more money into the market, helping XRP’s price move up.
Also Read: XRP ETF Approval Chances Jump to 82% on Polymarket
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