XRP Price Prediction: Can the Token Soar to $10?

The XRP price continued firing on all cylinders this month as its $181 billion market cap overtook popular companies like KKR, Comcast, Unilever

XRP price continued its stellar rally in February, with its market cap overtaking several blue-chip companies. Now, as XRP edges closer to its all-time high, can the token price rally to $10 as predicted by some crypto experts?

XRP price technical analysis: can Ripple hit $10?

XRP price was trading at $3.15 on Tuesday morning, putting the token at a price that needs to rise by 217% to hit the $10 level. For a coin that has jumped by over 700% since August last year, another 200% jump seems possible.

On the monthly chart, we observe the XRP price forming a strong bottom at around $0.207 between 2019 and last year. The neckline of this pattern was at $1.9692, which is its highest swing since 2021 and has now been crossed.

Approaching its all-time high at $3.5470, there will be two potential scenarios as XRP hits this level. First, it might encounter some resistance as investors begin selling at that level. Second, XRP could flip that level and turn it into a support point.

A move above that price indicates that more bulls are ready to take it higher, potentially to the next psychological level at $5.

Another way to analyze this is to consider the price action between 2017 and 2025 as part of a cup and handle pattern. If this is correct, then one can estimate the next Ripple target by measuring the depth of this cup and extrapolating the distance from the cup’s upper side.

In this case, the depth is about 95%. Measuring the same distance from the cup's upper side brings the Ripple target to $6.9.

Thus, the conclusion of this price analysis is that it will take a long time for XRP price to rally and hit the $10 level.

XRP price chart – TradingView

Potential catalysts for Ripple price

Several catalysts could propel XRP price higher in the next few years. First, there are signs that whales have continued to buy more XRP tokens as it nears its all-time high. According to data, whales have amassed over 100 million whale tokens in the last few days, continuing a trend that has spanned several months.

Whales bought over 100 million $XRP in the last 48 hours, as shown by data from @santimentfeed! pic.twitter.com/TVdqt65Nu4

Second, Ripple Labs could finally decide to launch its Initial Public Offering (IPO). Notably, its token is performing well, and regulations are set to be friendlier compared to the Biden era. An IPO could drum up more interest in the coin ahead of its launch.

Third, the XRP Ledger could continue to perform well as more developers join the network. This growth has started to happen as the RLUSD stablecoin gains more traction. Its daily trading volume soared to a record of $387 million, which is way higher than its total supply of $72 million.

Some top players in the XRP ecosystem have attained a multi-million dollar valuation. The biggest ones are Sologenic, Crypto Trading Fund, and XRP Army.

Finally, the SEC is set to approve a spot XRP ETF, a move that will lead to more inflows and hype. According to JPMorgan analysts, the inflows could be around $8 billion.