Ripple (XRP) Consolidates Above $3 as Multiple Trump-Fueled Bullish Catalysts Emerge

Ripple (XRP) price stagnated around $3 on Wednesday, raising a few eyebrows as crypto market events during the day revealed a number of bullish catalysts.

Ripple (XRP) price showed signs of consolidation on Wednesday, despite several bullish catalysts emerging from Trump’s inauguration that could propel XRP price towards $5.

Bloomberg ETF Analyst James Seyyfart confirmed the upcoming listing of XRP and Solana (SOL) futures on CME Group, the world’s largest derivatives exchange. This development is expected to drive capital inflows into Ripple price in the long term, given the exchange’s focus on institutional investors.

However, XRP price failed to register significant gains after the news, largely due to the following reasons: XRP is not expected to begin trading on the CME group until Feb 10. Hence the expected capital inflows are not priced yet.

Moreover, Donald Trump’s entry into the memecoin space has shifted layer-1 capital flows towards the Solana network. These two factors contributed to the tepid price action observed in XRP on Wednesday.

Binance Traders are reportedly moving $300 million XRP as speculations mount over Trump approving ETF. XRP price rallied 3% on Wednesday, breaking out of a two-day downtrend and establishing support above the $3 mark.

As reported by Fxstreet earlier this week, several clues point towards the SEC approving altcoin ETFs in the first half of 2025.

Crucially, investors are shifting coins into long-term storage at a rate last seen during the 2017 bull market, suggesting that investors are preparing for a breakout in the XRP price.

Technical analysis shows that XRP price could be eyeing a breakout towards $5 if bulls break out of the current consolidation phase and place larger long bets as the date of XRP and SOL listing on CME Group approaches.