Despite its choppy price action in the past seven days, the mood in the XRP camp is increasingly bullish. Particularly, XRP is witnessing a wave of bold predictions from several top crypto analysts. This comes just as a major real-world asset tokenization project promises to increase demand and utility for XRP on a global scale by tokenizing $200 million worth of assets on the XRP Ledger.
Not Bullish Enough On XRP?
Crypto analyst CrediBULL is pushing a bold message to the XRP community: the market is still underestimating the altcoin’s bullish setup. In a post on social media platform X, he noted that XRP is currently going on its eighth month of consolidation above its previous all-time high monthly close, which is a feat that few assets in the market can match.
He pointed to this extended sideways movement, especially after a strong impulse off the $0.50 level in late 2024, as evidence that XRP is preparing for a continuation of the breakout. Notably, its monthly candlestick chart shows a tight cluster of monthly candles hovering above the $2.00 range. According to CrediBULL, this structure is one of the cleanest in the crypto space, second only to Bitcoin.
Image From X: CrediBULL
Another major contributor to the current bullish narrative is an analyst known as Ripple Pundit, who projected a 35,000% price surge for XRP the moment Ripple announces a banking license. In his post on the social media platform, he predicted that a regulatory greenlight and the final resolution of XRP’s regulatory overhang with the SEC could trigger a significant increase in price.
Similarly, market commentator SMQKE drew attention to the explosive XRP price surge in late 2017 and early 2018, during which Ripple cofounder Chris Larsen briefly became one of the wealthiest individuals in the world due to XRP’s quick rally from $0.00065 to $2.5. SMQKE noted that the last cycle was merely a glimpse of what’s coming. The next wave of adoption will be global, fully regulated, and built for scale. In his words, “2018 was just a warm-up.”
Technical analyst Ali Martinez added further credibility to the bullish case by pointing out the $2.38 level as the next major resistance. This is based on on-chain data from Glassnode’s UTXO Realized Price Distribution (URPD), which shows a significant XRP volume concentrated at this price level. If XRP manages to clear this area with strong volume, it would not only overcome heavy resistance but also trigger a cascade of buying interest and a major rally.
Image From X: @ali_charts
Mercado Bitcoin Tokenization Deal On XRPL
XRP’s underlying utility is also gaining traction beyond price charts and predictions. Mercado Bitcoin, one of Latin America’s largest digital asset platforms, recently announced plans to tokenize over $200 million worth of real-world assets (including fixed income and equity instruments) directly on the XRP Ledger.
This initiative supports the bullish thesis for XRP’s price action. At the time of writing, XRP is trading at $2.25, up by 2% in the past 24 hours.
Featured image from Pixabay, chart from TradingView
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Scott Matherson