XRP Price: Analyst Prediction of $7-$8 in Few Weeks?

XRP's price is making headlines with analysts predicting a surge to $7-$8 in the coming weeks. Spot XRP ETF filings and legal progress fuel market confidence.

XRP Price: Analyst Prediction of $7-$8 in Few Weeks?

XRP is buzzing with potential! Analysts are eyeing a significant price surge soon. Are we about to see XRP hit $7-$8 in the next few weeks?

Analyst's Bold Prediction: $7–$8 XRP

CryptoBull, a popular analyst, recently shared a chart suggesting XRP could be heading toward the $7–$8 range. This is a pretty ambitious target, especially considering XRP is currently hovering around $3. While the market has been relatively quiet, calls like these for major rallies definitely stand out.

Decoding the Cup-and-Handle Pattern

The prediction is based on a classic technical analysis pattern: the cup-and-handle. On the daily chart, XRP appears to have formed a large cup-and-handle pattern. This bullish pattern suggests that if XRP breaks out above the $3.80 level, it could surge much higher, potentially reaching the projected $7–$8 range.

Key Levels to Watch Closely

In the short term, the $2.90–$3.00 zone is the immediate support level. On the upside, $3.80 remains the key resistance. A decisive break above $3.80, ideally with strong trading volume, would add weight to the $7–$8 prediction.

Spot XRP ETFs and Ripple's Legal Progress

XRP's recent price surge to $3.10 can also be attributed to several factors. Six major asset management firms—Grayscale, Bitwise, Canary Capital, CoinShares, Franklin Templeton, 21Shares, and WisdomTree—submitted amended registration statements for their proposed spot XRP ETFs. These filings indicate active discussions with the SEC and signal growing institutional interest in XRP.

Furthermore, progress in the Ripple Labs lawsuit with the SEC has boosted investor confidence, contributing to the recent price increase.

The Bull Flag Scenario

Another analysis suggests XRP could be entering a Bull Flag pattern, similar to one observed in November 2024. If this pattern holds, XRP may target price levels between $3.00 and $5.85.

Final Thoughts: Buckle Up!

While predictions should always be taken with a grain of salt, the combination of technical analysis, ETF filings, and legal progress creates an interesting narrative for XRP. Whether it actually hits $7-$8 in a few weeks remains to be seen, but it's definitely something to keep an eye on. Crypto never has a dull moment, does it?