The Virtune XRP ETP Outperforms Major Indices Like OMX Stockholm 30 and Bitcoin

The Virtune XRP ETP is reported to have outperformed major indices like OMX Stockholm 30 and Bitcoin. After a week-long rally, XRP printed over 100% gain

The Virtune XRP ETP is reportedly outperforming major indices including OMX Stockholm 30 and Bitcoin. After rallying for a week, XRP printed over 100% gain on the price chart. According to analysts, this remarkable “journey” highlights the strength of the asset and the long-term sustainability of the ecosystem.

The listing of VIRXRP on Nasdaq Stockholm was disclosed by CNF in June. Since then, it has outperformed its Bitcoin counterpart on several occasions. In the meantime, analysts believe that VIRXRP could continue its bullish momentum with XRP tipped to reach $2.2 before the year ends.

XRP Price Analysis

Subjecting XRP to a comprehensive technical analysis, a TradingView analyst identified as Skyrexio observed that the asset recently broke out of a four-year consolidation phase. At the moment, he estimates that XRP could reach between $2.5 and $3.8 since it is in the last wave of this global supercycle. Using a price chart to support his thesis, the analyst highlighted that the end of region C (in the chart below) showed a strong bullish sign.

The second target is more likely because wave 5, in 90% of cases, set a higher high than wave 3. We also want you to notice the bullish reversal bar and green dot on the indicator at the end of Subway C. On the monthly time frame, this is the strong bullish sign which will likely lead the price to the final target.

Comparing the current run to the historical price behavior, Skyrexio explained that XRP began a five-wave cycle, completing the first wave in early 2013. After this, there was a major correction. In 2024, XRP entered another correction in Wave 4, which is a triangle. However, this was broken recently, marking the beginning of a new bullish run.

EGRAG CRYPTO’s Position

Popular market trader EGRAG CRYPTO predicted that XRP could reach $11 by recording a 40x gain from its cycle low of $0.28. Analyzing this thesis, we observed that his prediction was based on the 2023 ruling by Judge Analisa Torres on the programmatic sales of XRP. According to him, this has brought clarity to the asset and could translate into massive price growth. Fascinatingly, this matches his market data and Fibonacci-based analysis that estimated aggressive growth for the asset class.

EGRAG CRYPTO used the performance of the leading cryptos in the previous cycle to estimate the price of XRP in another analysis. According to him, Ethereum (XRP) recorded a 58x gain in the previous cycle, moving from $80.9 to an all-time high of $4,868. If XRP imitates this level of gain, it would peak at $16. However, if it matches the 21x gain of Bitcoin, it could finish the cycle at $5.88.

At press time, XRP was down by 3.9% in the last 24 hours and was trading at $1.09.