Digital assets are a key accumulation zone around $1.80, suggesting that a price recovery may be imminent. The XRP correction might be ending, but market observers anticipate strong resistance at the $2 level. If several favorable developments were to occur within the Ripple ecosystem, either literally or possibly figuratively, you would have another big move within the cryptocurrency.

Key-Takeaways:

• However, any breakout of the $2 mark has attracted analysts’ attention due to XRP Correction and its price being traded in a critical accumulation zone between $1.50 and $2.00.
• The two strong catalysts for a bullish price in XRP have been the imminent launch of Teucrium’s leveraged XRP ETF and the resolution of the SEC’s legal issues.
• The MVRV Z Score of the coin on the chain is cheap and there is ‘smart money’ accumulation on the chain.

Technical Analysis Points to Potential Breakout

Market analyst Dom says XRP has been working as a ‘liquidity void’ from late November. The XRP correction is currently sitting in a tight trading range between $1.50 and $2.00 as this price inefficiency has put it in a tough spot. While $2 mark is one of the most significant resistance levels XRP could break convincingly, that could lead to a structural change in XRP’s price action. A breakthrough like this would also likely effectively put an end to the current downtrend and lead to the start of a new bullish phase.

Yet not all analysts are short-term optimists. According to Elliott Wave theory, Trader Chetan Gurjar XRP is still in a wave 2 correction phase. He identifies key Fibonacci retracement levels at $1.48, $1.15, and $0.89 as potential bottoms. This short-term caution does not prompt Chetan to have short-term targets but still bullish long-term targets of $8-$12 with peaks of a maximum of $23-$30 in the next main cycle.

Bullish Catalysts Strengthen XRP’s Position

XRP is in a strong fundamental position after several recent developments boosted it. One of the most notable developments was the approval of Teucrium to launch the first-ever leveraged XRP ETF in the United States. This product is designed to deliver twice the daily return of XRP’s price movements. This introduction marks a major milestone for institutional adoption and a milestone of legitimacy in the market.

The development was made after SEC gave up its appeal of settlement with Ripple, agreeing to a $50 million penalty. Removing a big cloud of uncertainty, this brings an end to this long-standing legal battle in relation to XRP. This means, among other things, financial institutions such as Franklin Templeton, Bitwise, and 21Shares have expressed interest in its own spot XRP ETFs.

Polymarket’s data on the odds of an XRP spot ETF being approved by the end of 2025 has rebounded to 77%. This also reflects growing market confidence in XRP’s regulatory clarity and institutional adoption.

Ripple’s Strategic Business Moves

XRP has also been bolstered by Ripple’s corporate strategy. Earlier this year, it made a sprawling $1.25 billion deal to buy prime brokerage firm Hidden Road. Ripple’s institutional footprint just expanded considerably with this acquisition. Rather than establishing its own client network, Ripple benefits from Hidden Road’s presence in the global financial markets, solidifying its position as a major force in global financial markets.

Conclusion: XRP Correction coming to an end

$2 is obviously XRP’s next likely target, according to crypto.news analysts. Experts at Standard Chartered also project a price target of $5.50 by the end of the year. Two months ago, XRP rallied 580% from November 2024 to January 2025 and this forecast follows this spectacular run. This could signal another potential 214% surge from current levels.