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XRP is showing strong bullish signals, but must break through $2.60 to continue rising toward $3.
The upcoming June 16 legal update is a major factor that could drive price movement.
XRP’s long-term growth depends on both legal clarity and increasing adoption in global finance.
XRP has recently gained attention again as its price climbed close to $2.29. This rise has sparked fresh discussions about whether XRP can reach the long-awaited $3 mark. Several technical patterns, on-chain data, and regulatory updates offer hope, but significant challenges still stand in the way. This article takes a deep look at XRP’s path to $3 based on current data, market conditions, and expert opinions.
On the price charts, XRP has been forming bullish patterns. One of the most noticeable is the falling wedge on the weekly chart, which often signals a potential breakout. If XRP can rise above its current resistance near $2.43, analysts believe it may quickly climb toward $3.20.
On the daily chart, an ascending triangle has also formed. If XRP can close above $2.60 on the daily chart, this could give it the strength to reach as high as $3.50.
XRP has recently bounced back from its 200-day exponential moving average (EMA). Historically, this is seen as a strong bullish sign. Many analysts believe that as long as XRP stays above $2.30 to $2.50, there is a good chance for the rally to continue.
The futures market for XRP also shows strong interest from traders. The total value of open futures contracts recently reached around $4.26 billion, suggesting that many traders are betting on further price increases. In early May, open interest surged by 53%, rising from $3.6 billion to over $5 billion, which matched XRP’s strong recovery on the charts.
Together, these technical factors suggest that if XRP maintains its current momentum, a rally toward $3 and even beyond is possible.
On-chain data shows that more buyers are entering the market. The cumulative volume delta (CVD) has turned positive, indicating that buying pressure is stronger than selling pressure right now.
Rising open interest in futures markets means more traders are entering long positions, which adds to the positive sentiment. If XRP can break through key price levels like $2.50 and $2.60, many traders expect that momentum will push the price quickly toward $3.
However, if XRP fails to hold support levels between $2.30 and $2.00, the bullish setup may fall apart, and the price could drop sharply.
The ongoing legal battle between Ripple (the company behind XRP) and the U.S. Securities and Exchange Commission (SEC) continues to affect XRP's price. A 60-day pause in the case is scheduled to end in mid-June. By June 16, the SEC is expected to file a report that could include a final settlement or indicate further negotiations.
There have been many rumors about a possible settlement, but legal experts warn against jumping to conclusions until there is an official announcement. The outcome of this case is likely to have a major impact on XRP’s future price.
The SEC’s approach toward cryptocurrency seems to be slowly changing. Recently, the SEC has dropped cases against other major crypto firms and pulled back on certain appeals related to Ripple. Some believe this shows a more crypto-friendly stance emerging in the United States.
An SEC roundtable meeting in early June included long discussions about Ripple’s role in the crypto space, which shows growing attention to XRP at the highest levels.
A positive resolution to the Ripple case could remove a major source of uncertainty, allowing XRP’s price to rally strongly.
Also Read - XRP Consolidates Above $2.20, ETF Optimism & Technical Breakout Fuel Bullish Sentiment.
Recently, XRP has gained about 10% in a short period, breaking through a bullish flag pattern. This has been described as one of the strongest moves for XRP in weeks.
Many price models suggest that if XRP can close above $2.50, it may move toward $2.65, followed by a potential run to $3 or even $3.55.
Some extremely bullish forecasts project XRP reaching prices as high as $5 or even $100 in the coming years, based on expected institutional demand and wider adoption of Ripple’s technology. However, these long-term predictions vary widely, and most analysts focus on the immediate target of breaking past $2.60 to make a move toward $3.
Ripple has been expanding its real-world use cases for XRP. One major development is the company’s move into tokenizing real-world assets like U.S. Treasuries. This gives XRP utility far beyond just being a speculative asset.
Ripple also continues to play a role in global payment systems. XRP is involved in international payment corridors and is part of the ISO 20022 messaging standard that banks and financial institutions are starting to adopt. This positions XRP as a potential key player in global finance, supporting long-term value growth.
These real-world use cases add strength to XRP’s value proposition, even during times of market uncertainty.
Even though the Ripple vs. SEC case may soon resolve, nothing is guaranteed. A negative outcome could result in more delays or even a price crash. Regulatory uncertainty continues to hang over XRP, and legal surprises could easily disrupt the bullish setup.
XRP’s performance is also tied to the overall crypto market, especially Bitcoin. Any unexpected shocks to global financial markets, such as interest rate hikes by the U.S. Federal Reserve or a major economic slowdown, could hurt crypto prices in general, pulling XRP down with them.
From a technical perspective, the support zone near $2.30 is very important. If XRP falls below $2.10 and stays there, the bullish pattern could break down completely, opening the door for larger losses.
Also Read - XRP Joins Nasdaq Crypto Index: What Does It Mean for Investors?
A careful analysis of XRP’s current position suggests that a rally to $3 is possible under the right conditions. Several positive factors could push XRP higher:
Strong technical patterns like the falling wedge and ascending triangle.
Rising open interest and positive on-chain data.
Potential positive outcome in the Ripple vs. SEC case.
Expanding real-world adoption of Ripple’s technology.
However, XRP also faces serious risks that could block its path to $3:
The ongoing legal battle with the SEC.
The uncertain regulatory environment.
It depends on the overall crypto market health.
The risk of technical breakdowns if prices fall below support levels.
Whether XRP reaches $3 will depend on how these factors unfold over the coming weeks and months. A breakout above $2.60 would signal a stronger chance of success, but a fall below $2.30 would raise red flags.
