XRP (XRP) Price Prediction: Will the SEC Lawsuit and Spot ETF Approval in 2025 Be Enough for a Bullish Breakout?

XRP price has been range-bound for the last five days, spending most of the time between $2.43-$2.23. Notably, the coin has been resilient above the $2.20 mark and Bitcoin's break below $95k has created a sour sentiment in the market.

XRP price has been trading sideways for the last five days, with most of the price action contained within the $2.43-2.23 range. Despite Bitcoin’s price drop below the $95,000 mark, XRP has managed to hold above the $2.20 level.

However, XRP’s performance has been lackluster, with a 9.8% loss over the last week and minimal upside momentum. Despite the bearish trend, several technical indicators suggest that XRP may be poised for a reversal.

XRP price still has strong support, which could propel a price pivot. Moreover, XRP has recently formed a bullish pennant pattern, which could yield a 103% price increase, as discussed below.

Fundamentally, XRP is showing signs of strength, with upcoming changes at the Securities and Exchange Commission (SEC) and a potential approval of spot Exchange Traded Fund (ETF) applications in 2025.

XRP Price Momentum

Furthermore, the coin trades below its key momentum indicators, highlighting the bearish sentiment. On the daily chart, the 9-MA has recently crossed below the 21-MA, with the price trading below both indicators. However, the Relative Strength Index (RSI) is at 54, indicating a possible reversal to the upside.

Meanwhile, XRP open interest data suggests increasing investor optimism in the coin’s performance. According to data from Coinanalyze, the value of perpetual contracts increased by 3.34% over the last 24 hours, reaching $2 billion. Futures contracts also saw a higher increase, rising by 22.2% over the same period. If this trend continues, XRP price could see significant上涨.

Bearish XRP Price Bullish Pennant Formation

On the four-hour chart, XRP price has formed a bullish pennant, signaling a potential breakout to the upside. If the price retests the $2.50 mark, it could validate the breakout and bring the pennant pattern into focus. Using the pennant’s pole as a yardstick, XRP price could potentially rise to $4.580. That infers a 103% upside from the current price and a new record-high price for XRP.