- John Bollinger, Bollinger Bands’ creator, said that XRP has remained resilient to the bearish market.
- BNY Mellon and Goldman Sachs are taking stronger interest in crypto under Trump’s administration.
- XRP could potentially soar to the $15 price tag, a massive 500% surge from current prices.
Riding a wave of positive momentum, XRP is currently trading at $2.43, reflecting a 6.31% gain in the past day, CoinMarketCap data shows. Crucially, the digital asset has moved above the 20-day EMA at $2.36.
Adding to XRP’s bullish outlook, crypto analyst Tony Edward, host of the Thinking Crypto Podcast, discussed XRP’s performance, highlighting increased institutional interest in digital assets.
XRP: Institutional Interest and Bullish Sentiment
Institutions such as BNY Mellon and Goldman Sachs have taken a stronger stance on cryptocurrency, mentioning digital assets for the first time under US President Donald Trump’s pro-crypto administration.
Edward noted that BNY Mellon expanded its relationship with stablecoin company Circle and Goldman Sachs acknowledged cryptocurrencies in its annual shareholder letter.
Related: Is This XRP Proposal on the SEC Website Real? Questions Swirl
These institutional developments indicate that major financial players are embracing crypto, and XRP stands to benefit massively, considering it has its own RLUSD stablecoin for institutions and is the largest “made in America” crypto.
John Bollinger, the creator of Bollinger Bands, also noted that XRP demonstrated resilience during recent market pullbacks, further suggesting its potential as a leading altcoin in the current cycle. Historically, assets like Ethereum and Solana have led altcoin rallies, but XRP’s recent strength positions it as a contender for the role.
XRP: Triangle Breakout Points to Potential $15 Target
Crypto analyst Ali Martinez highlighted that XRP has broken out from a symmetrical triangle formation in a multi-year chart dating back to 2018. If this breakout holds, Martinez sees a potential rally to $15 – a massive 500% increase from current levels.
Additionally, on-chain data shows that XRP addresses reached an all-time high of 6.87 million, indicating growing user adoption and network activity.
XRP Price Analysis
The Relative Strength Index (RSI) currently sits at 51.43, meaning the bulls have edged into control of the XRP price action. The gradient of the line suggests increased chances of retesting the $3 price tag in the near future.
Related: XRP’s Resilience: Analysts Bet on Major Gains, Key Catalysts Emerge
Adding to XRP’s bullish outlook, the MACD indicator has confirmed a bullish divergence on the daily chart with the MACD line (blue) breaking above the signal line (orange). The MACD histogram has also turned bullish, forming green bars.
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