XRP Could Reach 34 USD In This Rise Cycle

XRP has extended its bullish momentum and is trading above the $3 mark, raising speculation that this token could go even higher in the current market phase. Technical analyst Gert van Lagen predicts that recent price movements indicate a reasonable path to reach a price of 34 before the bullish cycle ends. Van Lagen cited the breakout of XRP on the seven-year double bottom neckline at $1.80 and a successful retest, indicating that the price has now become a support level. This structure is considered a strong bullish indicator, and according to his analysis, it forms the basis for a long-term move towards $34. Historical Patterns Reinforce Long-Term Goals Van Lagen's forecast is based on the Fibonacci extension level of 2.00 from the breakout pattern, aligning with similar patterns seen from 2014 to 2017 when XRP soared over 100,000%. Previous bullish phases also further reinforce the reliability of this target. Since the lowest point in 2022, XRP has increased more than 1,000%, while the 2020-2021 cycle yielded growth exceeding 1,600%.

Factors, including favorable monetary conditions, legal victories for Ripple, and relisting on exchanges, have driven these explosive moves. The current cycle is also benefiting from optimism surrounding a potential spot ETF, with an approval rate of 78%. According to analysts, this could push the price of XRP to a high of $27, potentially bringing the coin closer to its goal of surpassing $34. The Breakout of the Bullish Flag Pattern Reinforces the $34 Scenario Technical signals continue to reinforce the bullish trend. According to Irma Analytics, XRP surpassing the $3.45 mark has triggered the classic bullish flag pattern following the price increase from $2.10 to $3.50. This pattern has previously often signaled price increases of over 400%, indicating a short-term move towards $6 and potentially extending to $15. Irma Analytics also noted a bullish MACD crossover on the XRP chart, a signal often associated with strong upward momentum. When combined with the long-term chart structure of Van Lagen, this multi-layered technical picture reinforces the argument that XRP is likely to rise to $34 as the cycle completes. The Support of Institutions and Favorable Policies Creates Additional Incentives The acceptance of XRP by organizations has helped bolster optimistic prospects. ProShares recently launched the XRP Futures Contract ETF (XRPF), expanding the reach of this token to larger investment markets. At the same time, proposed legislation through the CLARITY and GENIUS Acts is expected to ease legal pressures, facilitating a more favorable growth trajectory for XRP towards higher price levels. The Pricing Factors Remain an Important Point to Monitor Although the technical and institutional framework is favorable, specific fundamentals serve as a warning. According to DefiLlama, the total value locked in the XRP ledger is approximately 85 million dollars compared to a market capitalization of 190 billion dollars, a much higher expansion ratio compared to Ethereum.

In addition, Glassnode notes that over 95 percent of the XRP supply is currently profitable, a situation that has previously led to profit-taking and potential sell-offs. Analysts believe that XRP could reach $34 in this bullish cycle thanks to the support of technical patterns, institutional interest, and policy backing. However, concerns about valuation and profit-taking risks may determine whether this ambitious target is ultimately achieved.