XRP price eyes 70% rally ahead of CFTC-regulated futures launch on Coinbase
XRP is showing bullish potential with analysts identifying Wyckoff reaccumulation and falling wedge patterns, targeting a price above $3.50. Despite a nearly 40% drop from its recent high of $3.40, XRP has maintained key support levels. The anticipated launch of XRP futures on Coinbase, regulated by the US CFTC, is set for April 21 and could drive new liquidity and institutional interest, contributing to this positive outlook. Technical analysis indicates that XRP's ongoing consolidation corresponds with a Wyckoff reaccumulation phase. A breakout above the 'Creek' trendline may trigger a rally towards $3.55. The Fibonacci retracement suggests a potential escalation to $5.65 if XRP breaks significant resistance. Additionally, a falling wedge symmetrical pattern may push XRP's price up to $4.00 following a confirmed breakout. The overall sentiment is further bolstered by potential momentum from Bitcoin, which could enhance XRP's upward trajectory.
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