XRP Set to Soar? Ripple ETF Approval Odds Hit 87%, $6 Rally in Sight
Highlights
- XRP forms a bullish cup-and-handle pattern with a key neckline resistance at $3.55
- Technical indicators such as RSI and Bollinger Bands suggest strong breakout potential
- Ripple ETF approval odds climb to 87%, adding momentum and boosting investor optimism for an XRP rally
XRP Consolidates at Key Support as Market Eyes Major Catalysts
XRP price has been holding steady around the $2.80 support level, drawing renewed market interest as traders weigh potential catalysts on the horizon. Despite ongoing volatility across the broader crypto market, bulls remain focused on reclaiming key resistance zones that could confirm a sustained breakout. Adding to the growing optimism is the sharp increase in Ripple ETF approval odds, which now stand at 87%—fueling a narrative that’s becoming increasingly hard to ignore.
Classic Breakout Pattern Points Toward $6 XRP Target
Currently trading near $2.80, XRP’s price structure is shaping into a classic cup-and-handle formation, with a critical neckline resistance at $3.55. This level has repeatedly acted as a ceiling, but the rounded base pattern suggests accumulation rather than buyer fatigue—often a bullish signal in technical analysis.
Between July and September, XRP formed a falling wedge after facing rejection around $3.50—a pattern often seen as a bullish continuation, especially when supported by a strong base like the one at $2.80. Despite minor corrections, this support has consistently held, reinforcing its importance.
A push above $3.20 could trigger renewed momentum toward the neckline. A confirmed breakout beyond $3.55 would complete the cup-and-handle pattern, activating a technical price target near $6 over the coming months.
Technical Indicators Align With Bullish Setup
Supporting the bullish structure, momentum indicators are beginning to shift in favor of the bulls. The Relative Strength Index (RSI) is currently hovering around 42, signaling that bearish pressure is waning without entering oversold territory—often a precursor to renewed upside.
Meanwhile, Bollinger Bands have narrowed considerably, a sign of compressed volatility that often leads to sharp directional moves. The mid-band near $2.95 has emerged as a key intraday pivot, acting as dynamic resistance in recent sessions. The combination of these signals suggests that XRP is coiling for a potential breakout, with momentum likely to accelerate if price clears nearby resistance levels.
Ripple ETF Approval Odds Climb to 87% as Market Anticipates Major Upside Shift
Optimism around a potential Ripple ETF continues to rise, with approval odds now reaching 87%—a development that’s injecting fresh confidence into XRP’s near-term price outlook.
The U.S. Securities and Exchange Commission (SEC) is currently reviewing 11 separate applications for an XRP ETF, with a crucial decision deadline set for October. A green light would mark a major milestone for Ripple, aligning it more closely with Bitcoin and Ethereum in terms of institutional accessibility.
Market projections suggest that a Ripple ETF could attract up to $5 billion in inflows during its first month, signaling substantial interest from both retail and institutional investors. Even in the absence of a formal ruling, the surge in approval odds has already shifted sentiment, helping XRP maintain strength around key support levels.
This growing ETF momentum has become one of the most powerful catalysts currently driving expectations for XRP. The asset continues to consolidate near strong technical support, while broader market sentiment increasingly favors a bullish breakout.
Looking ahead, a confirmed move above $3.55—a critical resistance level—could unlock significant upside potential. With ETF optimism climbing and technical indicators aligning, conditions are rapidly forming for a possible rally toward the $6 level in the near term.
