2-5-2025 – XRP is basking in a prolonged period of robust spot market strength, a phenomenon that underscores genuine buyer enthusiasm rather than fleeting speculative fervour. Unlike the sharp price surges since 2020, which were often propelled by perpetual futures trading and swiftly followed by steep declines, the current market dynamic reflects a more grounded ascent. This spot premium, where XRP trades at elevated levels compared to futures, signals a wave of authentic demand steering the cryptocurrency’s trajectory.
Adding weight to this optimistic outlook, Glassnode’s data paints a vivid picture of growing confidence among substantial XRP holders. Since late November 2024, the tally of addresses clutching at least 10,000 tokens has steadily climbed, undeterred by a 35% price retreat between January and April. These larger investors, often regarded as strategic and patient, appear to be amassing tokens in anticipation of future gains. Much of this optimism is tethered to speculation surrounding the possible greenlighting of a spot XRP exchange-traded fund (ETF) in the United States, bolstered further by the U.S. Securities and Exchange Commission’s recent decision to abandon its legal pursuit of Ripple.
From a technical perspective, XRP’s price is tracing the contours of a falling wedge on the weekly chart, a formation defined by converging, downward-slanting trendlines that typically heralds a bullish reversal. For a decisive breakout, the price must convincingly breach the upper resistance near $2.52. Should this occur, analysts project a potential surge to $3.78 by June, delivering a striking 70% gain from present levels. However, should XRP falter at this critical threshold, a retreat towards the wedge’s lower boundary could ensue, with the pattern’s apex at $1.81 serving as a final launchpad for a breakout. A successful move from this level could still propel XRP to around $3 by mid-year, offering a respectable 35% uplift.
