The XRP cryptocurrency is once again showing similarities to its explosive rise in 2017, as analysts point to rising institutional demand and bullish chart patterns. Trading in the $2.50-$2.70 range, XRP may be in the early stages of a novel growth phase driven by ETFs, treasury flows and structural technical setups.
Institutional flows and treasury instruments provide a bullish outlook
The resurgence of XRP is supported by a pointed augment in institutional interest. Recently launched Vehicle exposed to XRP has already accumulated assets worth over $115 million, while trading volume in related futures markets has grown into the billions.
This trend reflects the thesis of constrained supply, which, according to many analysts, will lead to price increases in the next stage.
In addition to ETFs, corporate treasuries and specialized acquisition companies are behind XRP. One example is a company planning to raise over $1 billion via its balance sheet for a publicly traded entity focused solely on XRP accumulation.
With such large-scale purchases clogging up supply, the shortage dynamics may increasingly favor the bulls. This institutional tailwind now places XRP in the same narrative once reserved for Bitcoin and Ethereum, but XRP is quickly gaining the attention of mainstream investors.
XRP chart setup resembles 2017 bull cycle, targeting double digits
Technically speaking, The current structure of XRP made comparisons with results from 2017. Analysts tracking Elliott Wave data suggest that XRP may be in the early phase of Wave 3, which has caused huge price movements in the past. In one scenario, this could push the token from its current level of $2.56 into double-digit territory.
Support near the $2.50-$2.60 range remains unchanged, underpinning the rally. If XRP manages to break through and stay above nearby resistance (around $2.67-$2.70), momentum could accelerate.
XRP's price records some losses on the daily chart. Source: XRPUSD chart on Tradingview
That said, warning flags remain. The divergence between price and momentum metrics and increased selling pressure from huge shareholders suggest short-term pullbacks are possible unless volume increases significantly.
Nevertheless, as the institutional environment strengthens and a classic bullish base forms, XRP appears poised to follow the 2017 “re-accumulate to breakout” scenario, potentially marking a move towards $10, $20 or more if all variables align.
The road ahead: key levels and vantage points
Market watchers will be closely watching two key levels. On the other hand, a sustained break above $2.70 could open a path to $3 and possibly much higher if institutional flows accelerate.
On the other hand, a break below $2.50 could signal delay and consolidation. Meanwhile, headlines about ETF approvals, corporate treasury purchases and real asset market activity on XRP Ledger will likely set the tone for the next major stage.
As the XRP narrative shifts from a retail speculative token to an institutional instrument, the coming weeks could mark a turning point where theory turns to price and the echoes of 2017 become real.
Cover photo from ChatGPT, XRPUSD chart from Tradingview
