TLDR
- XRP price is up 50% this month and trading at $2.62 with strong market interest.
- ETF inflows into XRP products topped $115 million in just one month.
- Analyst sees XRP in wave two of the Elliot Wave cycle, eyeing wave three.
- XRP Futures on CME reached $26 billion in notional value in five months.
XRP Price has seen renewed interest as a crypto analyst projects a price jump to $10 in the coming months. The token, which was trading at $2.6290 on October 29, is up 50% from its lowest point this month. The forecast is based on the Elliot Wave analysis and the growing inflows into XRP ETFs, which some experts say could drive the next major move.
Elliot Wave Pattern Signals Further Growth
A crypto analyst known as XForceGlobal has stated that XRP may rally toward the $10 mark in the near to medium term. According to the analyst, XRP price is currently in the second phase of the Elliot Wave cycle, which is a corrective stage. This cycle is a technical model that charts asset price trends in five stages, alternating between impulsive and corrective waves.
The analyst explained that if the pattern holds, XRP could enter its third wave soon. This phase is often the strongest and has historically shown sharp upward price movement. The token would need to gain approximately 285% from its current level to reach the $10 target.
Although this may seem steep, XRP has experienced similar rallies in the past. From November 5 to January 7, the token rose by over 550%. Other tokens, such as Zcash, have also surged from a consolidation range, gaining more than 640% in under a month. However, the analyst also warned that the path will likely include price swings and corrections.
XRP ETF Inflows Continue to Build
Another factor supporting the bullish outlook is the rise in ETF inflows linked to XRP. The REX-Osprey XRP ETF, which launched recently, has attracted over $115 million in assets within its first month. This shows growing institutional interest in XRP-based financial products.
At the same time, CME XRP Futures have grown rapidly in volume. Their notional value reached over $26 billion within the first five months of trading. Futures and ETF inflows are often seen as indicators of investor confidence, especially among professional traders.
The analyst suggested that rising inflows into both ETFs and futures markets could add to buying pressure on XRP. As interest in regulated products increases, more investors may gain exposure to XRP through these channels.
Possible XRP ETF Approvals on the Horizon
The forecast also takes into account developments from the U.S. Securities and Exchange Commission. The SEC recently approved spot ETFs for altcoins like Solana, Litecoin, and HBAR. These approvals came despite broader regulatory uncertainties and a partial government shutdown.
Analysts believe this trend may continue with XRP. Firms like Franklin Templeton and Invesco have already submitted filings for XRP-based ETFs. If approved, these funds could attract new capital from U.S. investors.
According to market watchers, XRP remains one of the most followed tokens in the country. Its strong presence in the U.S. market may support further demand once official ETF products are available.
Ripple Developments Add to Market Activity
Ripple has also launched new business lines that may support the ecosystem. A key update was the introduction of Ripple Prime following the acquisition of Hidden Road. This expansion is expected to increase institutional activity within Ripple’s network.
The company has also introduced the RLUSD stablecoin, which could grow use cases for the XRP Ledger. As Ripple builds new tools and infrastructure, more activity could support its token in both usage and price.
These updates come at a time when the market has been consolidating. XRP’s price has moved sideways recently, even as other coins posted gains. But with rising ETF interest, Elliot Wave predictions, and new product launches, some see XRP as preparing for its next breakout.
