The XRP (XRP) price chart has been painting a pretty picture for its investors, with an asymmetrical triangle on the weekly chart. This bullish setup, combined with the possibility of XRP futures launch, has traders wondering if a rally to $15 is on the horizon.
CME XRP Futures: Coming Soon or Just a Leak?
XRP’s price has been on a rollercoaster ride, dropping 2% over the last 24 hours after a profitable streak. However, the cryptocurrency seems well-positioned to continue its three-month rally, thanks to a crypto-friendly Trump administration and other macro developments.
Rumors have been swirling that the Chicago Mercantile Exchange (CME) Group is preparing to introduce futures contracts for Solana (SOL) and XRP for launch on February 10, pending regulatory approval. But don’t get too excited just yet – a CME Group spokesperson clarified that no official decisions about launching futures contracts for either XRP or SOL have been made.
Despite the lack of official confirmation, the news led to a temporary surge in XRP, which rose 3.2% within minutes of the information coming out on January 22. But let’s not forget that this could all be just a big misunderstanding, like when your friend tells you they’re bringing pizza to the party, but they actually meant they’re bringing a salad. 🍕
Possible XRP Chart Breakout Points to $15 Target
The XRP/USD pair is looking to resume its prevailing bullish momentum that has been in play for the last four weeks after breaking out of a multi-year symmetrical triangle with an upside outlook.
XRP’s price action between January 2018 and January 2025 has led to the formation of a symmetrical triangle pattern on the weekly chart. The price broke above the triangle’s descending trendline at $0.68 in mid-November 2024, signaling the start of a massive upward breakout.
The target is set by the distance between the triangle’s lowest and highest points, which comes to be around $15, an approximately 390% uptick from the current price. That’s like turning $100 into $4,00! 💰
Several analysts have also eyed the $15 XRP price target this year, citing XRP’s adoption and chart technicals, institutional demand, and a crypto-friendly Trump administration as the reasons. But let’s not forget that predicting the future is like trying to herd cats – it’s nearly impossible! 😼
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2025-01-23 16:03