XRP Has Broken Above the Critical $2.50 Zone, Targeting the $3 to $5 Zone

Over the last seven days, XRP has broken above the critical $2.50 zone, gaining 21.47% on the weekly chart to trade at $2.59 as of May 14.

Over the last seven days, XRP has broken above the critical $2.50 zone, gaining 21.47% on the weekly chart to trade at $2.59 as of May 14.

After trading lower through April and threatening to stabilize well below $2, the third most popular cryptocurrency has now entered a parallel ascending channel promising to take it toward the $3 to $5 zone in the coming months, according to an analysis posted on May 13 to TradingView by Rocksorgate, a chart expert focusing on the XRP token.

An ascending parallel channel is a technical analysis (TA) chart pattern that occurs when an asset records a series of higher highs and lows that fall within the bounds set by two sloping lines marking the trend boundaries. It is also known as a rising channel or a channel up.

$2.50 remains a critical support zone for the XRP May rally

Additionally, the assessment provided by the prolific analyst confirms not only that the levels between $2.48 and $2.50 were critical but also that, per the Fibonacci retracement levels, they remain important for XRP to retain the uptrend.

Fibonacci retracement levels are determined by taking two extreme points on a chart and dividing the vertical distance by the key ratios of the sequence. These levels have multiple uses and can define support and resistance levels, places for stop-loss orders, or generate target prices.

Lastly, the trading specialist noted that, should the token maintain the current course, the outlook for the rest of 2025 remains bullish.

Likely XRP bullish catalysts in 2025

Within the analysis, Rocksorgate pointed toward several developments that have been generating hype for XRP in recent days and months. The XRP specialist noted the increased odds that the Securities and Exchange Commission (SEC) will approve a spot exchange-traded fund (ETF) as a particularly powerful potential catalyst.

It is worth remembering that such an XRP ETF has been speculated on for more than a year.

Now, however, the chances of the commission greenlighting an ETF based on a cryptocurrency like Bitcoin (BTC) or Ethereum (ETH,— which trades on major exchange like Binance at $1,766.65 during Friday’s morning session— are looking slim despite the fact that several such products have already been submitted to the agency.

Instead, the agency seems to be getting closer to approving an ETP, which is essentially an ETF that trades on an exchange in another country.

Recently, there have been several developments that suggest the SEC could soon approve an ETF.

Firstly, the agency is now considering an partnership between Trump Media & Technology and Crypto.com to launch a new exchange-traded product (ETP) in the U.S.

Secondly, the commission is getting closer to approving an ETF based on Bitcoin or Ethereum.

After years of denials, the SEC has recently entered into an agreement with crypto exchange Shapeshift to pay a penalty of $1.5 million to settle charges that its token mixing service was used to launder funds from the commission’s agency.

The agency has also struck a $50 million deal with Ripple Labs to resolve the agency’s lawsuit against the firm.

The Shapeshift case began in 2021 when the agency claimed that the exchange’s Shapeshift.io platform, which is used by crypto traders to mix cryptocurrencies to conceal their source, was sold to U.S. investors without proper registration.

The Shapeshift token mixing service enables users to combine their cryptocurrency with other users’ coins in a process called ‘mixing.’ This service is legal in the U.S., but those offering it must register with the SEC and disclose information about their offerings.

However, according to the SEC’s announcement on Monday, Shapeshift completed the offering without registering with the agency and sold the service to U.S. investors.

The regulator also said that Shapeshift’s Shapeshift.com service, which provides institutional investors with crypto trading services, was sold illegally.

The agency stated that Shapeshift will pay $1.5 million to settle the charges without admitting or denying them. The case is closed.

In a separate case, the SEC announced that it has reached a $50 million settlement with Ripple in their case that began in 2024.

The agency is suing Ripple for selling unregistered securities in the form of its XRP token. The SEC claims that Ripple sold the XRP token to U.S. investors through an unregistered offering.

The case has been ongoing for years and went to trial earlier this year.

However, according to a joint statement by the parties, they have now agreed to settle the case. As part of the settlement, Ripple will pay $150 million to resolve the SEC’s claims that its institutional sales of XRP violated federal securities laws.

The agency will also receive an additional $30 million in penalties from Ripple for violating Section