XRP correction may be ending as bulls watch $2 breakout zone

According to analysts, XRP acts close to an important battery zone, which could strengthen the case for an upward rally.

In an April 8 X afterBe analyst that XRP now fills a “liquidity emptiness”, so that an inefficiency in price action is essentially corrected at the end of November. That puts it actively in a tight reach between around $ 1.50 and $ 2.00.

The analyst noted that the $ 2 marking serves as a critical resistance level and important battery zone. A clean break above it would indicate a potential structural shift that could officially end the current decrease.

At the time of the press, XRP (XRP) had fallen by 3.3% for the past 24 hours and the hands exchanged at $ 1.80, while market capitalization was more than $ 104 billion. The daily trade volume had also fallen 42% to $ 6.3 billion.

Bullish catalysts for XRP

Nevertheless, a number of positive XRP-related developments cause many traders to believe that XRP could prepare for a bullish rally.

Firstly, the launch of Teucium’s Leveraged XRP ETF (XXRP) marks the first XRP-linked ETF in the US, with double daily returns on XRP. This is an important precedent for institutional involvement and legitimizes wrinkle -based investment products in traditional markets.

This milestone comes on the heels of the SEC that drops its attraction and establishes the ripple store with a fine of $ 50 million, so that the long -term regulatory uncertainty around XRP is effectively removed. The legal clarity has led renewed institutional importance, with companies such as Franklin Templeton, Bitwise and 21Shares that are now striving for Spot XRP ETFs.

The excitement is also growing around the potential launch of a place XRP ETF towards the end of 2025. According to Polymarket factsApproval opportunities were climbed back to 77% and recovered from a dip to 72% registered on 7 April.

Secondly, Ripple has announced the acquisition of Prime Brokerage Firm Hidden Road in a $ 1.25 billion deal, one of the largest in the history of the crypto industry. The move is expanding Ripple’s institutional footprint by using the established Hidden Road customer network and positions Ripple as a more dominant player in Global Finance.

Thirdly, on-chain statistics support a bullish prospect.

Data from santiment reveals a steady accumulation by portfolios with 100,000 to 100 million XRP, usually considered smart money. This purchase activity during the DIP suggests a strong conviction among larger investors, often seen as a precursor to upward price movement.

XRPs MVRV Z-score has also fallen to 1.43, the lowest level since November last year. That is remarkable because the last time it was so low, XRP started a Bull Run and eventually hit its all-time $ 3.40.

A lower MVRV Z-score usually means that it is actively undervalued compared to the historic average, which can be a sign that the market is almost a bottom and is ready for a rebound.

In the meantime, the weighted financing speed has returned to greenery, which indicates an improved investor sentiment among XRP derivatives traders, because more of them are now placing bullish bets after a period of caution.

According to analysts at crypto.news, $ 2 is the most likely next target for XRP.

Experts at Standard Chartered have in a longer period of time set An even higher price target, which projects $ 5.5 as a realistic target by the end of the year. Their prediction comes after the 580% Rally of XRP from November 2024 to January 2025, suggesting that there is room for another 214% of the current level.

XRP still in correction phase

Trader Chetan Gurjar believe XRP is still in its wave 2 -correction phase, based on the Elliott golf theory, a popular trade method in which the price moves in patterns of five waves up when the market is trending and three waves are down when it corrects.

At the moment, Chetan thinks that XRP is in one of those “down” phases, Wave 2, which usually happens before the next major movement up. He sees this dip as a healthy retracement, with possible bottom zones around Key Fibonacci levels: $ 1.48, $ 1,1453 and $ 0.8856.

Chetan also has a number of elevated long-term goals: at least $ 8- $ 12, with the possibility that XRP is as high as $ 23 to 30 during the next large cycle. He does not notice that a breakdown under $ 0.3823 would make his current golf count invalid.