On April 29, 2025, XRP traded near its monthly highs

On April 29, 2025, XRP traded near its monthly highs, buoyed by a series of technical indicators and growing institutional interest.

On April 29, 292025, XRP was trading near its monthly highs. Some analysts set a price target of $3.63 for XRP in the coming days.

Some traders and investors are monitoring a falling wedge pattern on the daily chart, which could lead to a breakout.

"If we do get a breakout of the wedge, we can expect to see a move towards the $3.00 level with an extended target at $3.63," said John Squire, an analyst at eToro. "We will also need to keep an eye on the volume as it does tend to increase during a breakout."

XRP Surges 5.3% in 2025 as CME Plans Futures Launch

Derivatives exchange CME Group announced it would launch cash-settled futures contracts for XRP on May 19, 2025, pending regulatory approval.

The move follows CME's introduction of Solana futures earlier in April, showcasing a broader initiative to provide sophisticated trading tools beyond Bitcoin and Ether.

"This is an important and exciting step in the continued growth of the XRP market," said Brad Garlinghouse, CEO of Ripple, the enterprise blockchain company that created XRP. "We believe that CME Group's futures will attract even more institutional capital to XRP, further deepening liquidity and tightening bid-ask spreads."

After surging in March 2025, XRP's price action has been relatively flat despite a series of technical setups that could lead to a deeper decline.

As the cryptocurrency market continues to recover from last year's bear market, several analysts have set their sights on XRP, particularly with the upcoming launch of CME futures and potential approval for a spot XRP ETF in the U.S.

"We're also seeing increasing buying pressure, signaled by the rising trading volume," said one analyst. "A decisive close above $2.45 would confirm the wedge breakout and open the path to $3.63."

However, not all analysts are bullish on XRP in the short term. Egrag Crypto, a crypto analyst, warned that XRP must reclaim and hold above the $2.33-$2.45 zone to avoid a deeper pullback.

"If the price fails to sustain gains above this threshold and closes lower, we might see a retest of the support level near $1.25."