XRP, the popular altcoin, is showing strong bullish potential, with price chart analysts predicting a 70% rally in the near term. This optimism comes amid technical patterns aligning with bullish formations and the anticipated XRP futures launch on Coinbase Derivatives, regulated by the CFTC.
XRP Poised for Breakout Despite Recent Pullback
Over the past three months, XRP has declined nearly 40%, falling from its multi-year high of $3.40 to around $2.20. Despite this pullback, XRP remains resilient above critical technical support levels. Analysts believe this stability, paired with upcoming market events, could drive XRP significantly higher.
XRP Futures Set to Launch on Coinbase Derivatives
A major catalyst for XRP’s potential rally is the expected launch of XRP futures on April 21 via the Coinbase Derivatives platform, overseen by the U.S. Commodity Futures Trading Commission (CFTC). This development is seen as a strong bullish signal, adding credibility and liquidity to XRP’s market.
Wyckoff Reaccumulation Pattern Signals Bullish Continuation
Technical analyst Charting Guy highlights that XRP’s price action is mirroring a classic Wyckoff reaccumulation pattern, a formation typically seen in the mid-cycle of an uptrend.
- Phases A & B: XRP began consolidating in late 2024, forming initial support zones.
- Spring & Test: In early April 2025, XRP displayed signs of seller exhaustion with a successful Spring and Test phase.
- Jump Across The Creek (JATC): XRP is now attempting to break above the descending “Creek” trendline, potentially entering Phase D.
- If successful, Phase E could see XRP rally 70% towards $3.55, followed by a further rise to $5.65 based on Fibonacci retracement analysis.
Falling Wedge Pattern Confirms Bullish Outlook
Another technical formation supporting the bullish case is the falling wedge pattern, identified by chartist Jobcfx. This bullish reversal pattern has been developing since February 2025, narrowing XRP’s trading range.
- A breakout above $2.20–2.40 would confirm a major rally.
- The pattern projects an upside target near $4.00 in May, which aligns with the Wyckoff pattern’s breakout zone.
- Interestingly, Bitcoin (BTC) is also forming a similar falling wedge, which, if confirmed, could act as a broader altcoin market catalyst, accelerating XRP’s momentum.
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