Analyst Sees XRP Breakout Above Range Highs at $3.4 but on One Condition

The analyst says he is awaiting a breakout above range highs for XRP, but any bounce would only be meaningful if it is accompanied by broader market support.

XRP has recently seen declines in price, falling from $2.20 to just above $2.05 within a few hours, as it has collapsed 4.8% over the past 24 hours. Despite this short-term dip, the crypto has demonstrated substantial long-term growth. 

Over the past year, XRP price has surged by an impressive 230.8%. Also, the market shows signs of short-term recovery, with a 1.6% gain in the past hour, suggesting a possible rebound in the near term.

XRP Price Potential Breakout

Amid the short-term fluctuations, an analyst on X, CrediBULL Crypto has kept the focus on the potential for XRP to break out above the current range highs, which would indicate the next major price move. In his commentary, the analyst highlighted the importance of leveraging charts instead of focusing on news events.

Push faded ✅

This is why I always place more emphasis/focus on the charts over news events.

Still looking for range lows for a potential long opp. Note with BTC/CRV etc at local demand $XRP could even bounce here if we get a market-wide bounce, but it wouldn't change anything… https://t.co/XnReU8cnEe pic.twitter.com/vhJjHU28AQ

— CrediBULL Crypto (@CredibleCrypto) March 29, 2025

Notably, market watchers typically see short-term fluctuations as less significant when waiting for a definitive direction. 

The analyst stresses that a clear break above the range highs would signal a stronger move, while any bounce would only be meaningful if accompanied by broader market support, typically due to a rally from Bitcoin.

Notably, this was the same game plan for him in a March 20 post. The analyst had noted that he was not interested in jumping into fresh longs. He rather hoped that people would choose to fade XRP’s push, creating what he called a fantastic opportunity.

Other Bullish Factors for XRP Price

It is important to note that the recent administration change in the U.S. has played a major role in XRP’s performance. Following Donald Trump’s election victory, the crypto witnessed a notable price spike in late 2024. 

However, despite some speculation that this rally had reached its peak, experts suggest that XRP could continue to see price increases. 

Cas Abbé, a Web3 Growth Manager, identifies several bullish factors that could drive XRP’s price above the $10 mark in the future. These include the possibility of XRP ETF approvals and growing institutional interest in the token.

Institutional Interest and the XRP ETF Speculation

Also, following the resolution of the Ripple lawsuit, XRP has gained regulatory clarity in the U.S., which has paved the way for institutions to file for XRP ETFs. Notably, multiple institutions, including Franklin Templeton, have submitted applications for spot-based XRP ETFs. 

Predictions also note that major asset managers such as BlackRock and Fidelity may also pursue similar filings. The approval of such ETFs could attract significant institutional investment, further bolstering XRP’s market performance.