XRP price targets $15 amid enthusiasm over CME futures launch
2025.01.23 07:59
XRP (XRP) price printed an asymmetrical triangle on the weekly chart, a technical pattern associated with strong trend momentum. Can this bullish setup and the possible XRP futures launch signal the start of a rally to $15?
CME XRP futures could launch as early as Feb. 10
XRP price is down 2% over the last 24 hours after days of profit-taking following the rally to a seven-year high of $3.40 on Jan. 16.
However, XRP appears well-positioned to continue its three-month rally for multiple reasons, including a crypto-friendly Trump administration and macro developments.
Moreover, there are reports that the Chicago Mercantile Exchange (CME) Group is preparing to introduce futures contracts for Solana (SOL) and XRP for launch on Feb. 10, pending regulatory approval. The contracts were detailed to include both standard and micro-sized offerings.
Purported SOL and XRP futures CME website (screenshot). Source: X
However, this information was quickly removed from the website. A spokesperson for the CME Group clarified that the information leaked from the beta version of their website was mistakenly made public.
Related: Price analysis 1/22: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, XLM, SUI
They emphasized that no official decisions about launching futures contracts for either XRP or SOL have been made.
Despite the lack of official confirmation, the news led to a temporary surge in XRP, which rose 3.2% within minutes of the information coming out on Jan. 22.
Bloomberg Senior ETF analyst James Seyffart commented on the leak, stating,
“Honestly, it makes sense and is largely to be expected if true.”
According to the leaked details, the futures contract for XRP would be available in standard sizes involving 50,000 XRP per lot and micro contracts sized at 2,500 XRP.
Possible XRP chart breakout points to $15 target
The XRP/USD pair looks to resume its prevailing bullish momentum that has been in play for the last four weeks after breaking out of a multi-year symmetrical triangle with an upside outlook.
XRP’s price action between January 2018 and January 2025 has led to the formation of a symmetrical triangle pattern on the weekly chart, as shown in the figure below. The price broke above the triangle’s descending trendline at $0.68 in mid-November 2024, signaling the start of a massive upward breakout.
The target is set by the distance between the triangle’s lowest and highest points, which comes to be around $15, an approximately 390% uptick from the current price.
XRP/USD weekly chart w/ symmetrical triangle pattern. Source: Cointelegraph/TradingView
Several analysts have also eyed the $15 XRP price target this year, citing XRP’s adoption and chart technicals, institutional demand, and a crypto-friendly Trump administration as the reasons.
For instance, pseudonymous analyst Mickybull Crypto shared a chart showing XRP trading closer to the upper boundary of a bull flag with an upside target of $15.
Source: Mikybull Crypto
Using Fibonacci levels and Elliott Wave theory, popular crypto analyst Egrag Crypto shared an optimistic price prediction XRP, saying that the remittance token could reach a valuation of $15 by May 5, 2025.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
