Can XRP price surge to $6? A well-known trader reveals the logic behind the extremely bullish target

When the cryptocurrency market is in a delicate balance, every move by XRP can always attract traders’ attention. Over the past week, XRP’s price has experienced significant volatility, with a slight pullback from $2.0048 on December 11, but it still remains above the key psychological level of $2.

Despite facing short-term adjustments, institutional investors continue to pour large sums into XRP. This strong fundamental support has led more and more analysts to believe that the current correction may be the calm before the storm.

01 Price Volatility Analysis

Currently, XRP’s market performance shows a clear polarization. According to data released by Aastocks on December 11, XRP closed at $2.0048, down 4.118% in the past 24 hours, with a trading volume of $281 million.

This adjustment keeps XRP’s intraday trading range between $2.0000 and $2.1108, indicating intense market battles at key price levels.

Compared to other major cryptocurrencies during the same period, XRP’s decline is roughly in line with the overall market trend, with Bitcoin down 2.665% and Ethereum down 2.816%. This suggests that XRP’s correction is not an isolated phenomenon but a reflection of the overall market sentiment.

Notably, despite the price pullback, XRP’s trading volume remains relatively high, indicating that market participants’ interest in this asset remains strong.

02 Large Inflows of Institutional Funds

The sustained interest of institutional investors in XRP has become a powerful support for its price. According to a report released by TipRanks on December 9, XRP investment products have attracted $3.1 billion in inflows this year, far exceeding the $608 million for the entire 2024.

CoinShares research director James Butterfill explicitly stated, “This indicates a significant shift in institutional investor interest in XRP.”

In the US spot XRP ETF space, funds have maintained net inflows for 15 consecutive days, with a total inflow approaching $900 million, and assets under management reaching $861.3 million.

Crypto investor Giannis Andreou pointed out that this continuous inflow of funds often signals an upcoming change in market narrative. These funds have locked in over 4 billion XRP tokens, reducing circulating supply and creating favorable conditions for price increases.

03 Technical Analysts’ Bullish Logic

Technical analysts are optimistic about XRP’s price prospects, based on multiple technical indicators and chart patterns. Currently, XRP’s price has formed a symmetrical triangle pattern on the 4-hour chart, which analysts consider a typical accumulation pattern that often triggers significant volatility upon breakout.

The key is whether XRP can successfully break through the resistance level of $2.15. Once broken and maintained above this level, the target price calculated by technical analysts is $2.65, representing a potential 27% upside from the current level.

Renowned analyst Ali also recently pointed out that a breakout from this symmetrical triangle pattern could trigger approximately 16% price gains, pushing XRP toward the $2.40 region.

04 Extreme Predictions from Notable Traders

Beyond short-term technical analysis, some market observers have made more aggressive long-term predictions. Technical analyst Egrag Crypto recently analyzed charts and indicated that XRP is in the “Move 1” phase, which historical data shows as a strong precursor to a major breakout.

According to his analysis, the upcoming “Move 2” phase could push XRP to $10.70 or even higher.

Javon Marks, based on cycle symmetry analysis, noted that current market conditions are very similar to the accumulation phase before the big surge in 2017. He believes XRP is currently in the “chase phase,” the final preparatory stage before explosive growth.

Based on measured move calculations, he predicts that if the arc pattern fully unfolds, the price could leap to $15, with a potential increase of over 600%.

05 Bull Market and Risks Coexist

The positive shift in market sentiment is also reflected in derivatives trading. XRP’s daily funding rate has turned positive, reaching 0.0189%, indicating that most traders are building long positions.

On Binance, the long/short account ratio currently favors longs, reaching 72%. Although this high activity brings liquidation risks, it also highlights growing market confidence in XRP’s upside potential.

Even in such an optimistic market environment, investors should remain cautious of risks. Key indicators of the RLUSD (Ripple USD) stablecoin recently showed weakness. Over the past 30 days, adjusted trading volume has decreased by 60%, and stablecoin trading activity has fallen by 46%, to 424k.

Additionally, demand for the newly launched XRP ETF in the US declined on Tuesday, with inflows dropping from $38 million the previous day to $8.73 million.

However, since its launch, these ETFs have never experienced outflows, with total inflows still approaching $1 billion. This suggests that although short-term demand fluctuates, long-term institutional interest remains solid.

Future Outlook

On December 12, as the market re-examines XRP’s price chart, a clear symmetrical triangle pattern indicates an imminent breakout. Trading volume surged alongside continued institutional inflows, with $3.1 billion flowing into XRP-related products this year.

From the recent target of $2.65 to the analyst-predicted high of $15, the potential upward channel is already open. A professional trader in the crypto community stated, “When technical and fundamental factors resonate, it usually signals a major market opportunity.”