XRP technical indicators are suggesting the asset is eyeing a possible 107% spike after confirming a major support zone. This outlook is based on analysis by pseudonymous crypto expert Master Ananda , who noted in an August 22 TradingView post that XRP established its main low during the week of July 28 and has since formed a higher low, signaling renewed strength. XRP price analysis chart. Source: TradingView Price action has currently stalled at the 13-day exponential moving average ( EMA ), where selling pressure was quickly absorbed, leading to a full recovery of losses within hours, a bullish development. According to Ananda , this rapid rebound indicates room for continued upside, with the retracement phase now appearing to be over. At the same time, the recent pullback that culminated in a drop below $3, has lasted five weeks since the July 14 peak, aligning with a standard retracement period before the continuation of the main trend. With support confirmed, Ananda projects that XRP is likely to resume its upward trajectory. The first price target stands at $4.44, with the primary short- to mid-term objective set at $6.28. XRP price fundamentals Beyond technicals, XRP is also supported by fundamentals that could trigger a rally. Most notably, following the conclusion of the Securities and Exchange Commission’s (SEC) case against Ripple, attention has shifted to the potential approval of a spot XRP exchange-traded fund ( ETF ). To this end, on August 22, a wave of asset managers, including Canary, CoinShares, Franklin Templeton, 21Shares, WisdomTree, Grayscale, and Bitwise, submitted amended registration statements for proposed XRP ETFs. The move came after a federal appeals court formally dismissed the SEC’s case against Ripple, clearing the way for issuers to act quickly. Bloomberg Intelligence now estimates approval odds for XRP ETFs at 95%. XRP price analysis By press time, XRP was trading at $3.03, up more than 7% in the past 24 hours, though down 3% on the weekly chart. XRP seven-day price chart. Source: Finbold For XRP to realistically target a new high, the token needs to hold the $3 support zone and could receive an additional boost if overall crypto market sentiment remains bullish. Featured image via Shutterstock The post XRP price set for $6 after confirming major support appeared first on Finbold .
