XRP (XRP) price has printed an asymmetric triangle on the weekly chart, a technical pattern associated with strong trend momentum. Could this bullish setup and possible launch of XRP futures signal the start of a $15 rally?
CME XRP futures could launch as early as February 10th.
XRP price rose to a seven-year high of $3.40 on January 16 and then fell 2% in the last 24 hours after several days of gains.
However, XRP appears well-positioned to continue its three-month rally for a number of reasons, including the cryptocurrency-friendly Trump administration and macro developments.
Additionally, there are reports that the Chicago Mercantile Exchange (CME) Group is preparing to introduce futures contracts for Solana (SOL) and XRP for a February 10 launch, pending regulatory approval. The contract has been detailed to include both standard and micro-scale products.
SOL and XRP futures CME website (screenshot). source: X
However, this information was quickly removed from the website. A CME Group spokesperson said information leaked from a beta version of the company’s website was made public by mistake.
relevant: Price Analysis 1/22: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, XLM, SUI
They emphasized that no formal decision has been made on the launch of futures contracts for XRP or SOL.
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 January 22.
Bloomberg senior ETF analyst James Seyffart commented on the outflow:
“Honestly, that’s largely expected if it makes sense and is true.”
According to leaked details, the XRP futures contract will be available in a standard size of 50,000 XRP per lot and a micro contract size of 2,500 XRP.
A possible XRP chart breakout points to the $15 target.
The XRP/USD pair looks set to break a multi-year symmetrical triangle with an upside outlook and resume the bullish momentum that has persisted over the past four weeks.
The price movements of XRP between January 2018 and January 2025 resulted in the formation of a symmetrical triangle pattern on the weekly chart, as shown below. The price crossed the triangle’s descending trend line at $0.68 in mid-November 2024, signaling the beginning of a massive bullish breakout.
The target is set by the distance between the lowest and highest points of the triangle, which would be around $15, an increase of about 390% from the current price.
XRP/USD weekly chart with symmetrical triangle pattern. Source: Cointelegraph/TradingView
Several analysts have eyed a $15 XRP price target this year, citing XRP’s adoption and charting skills, institutional demand, and the cryptocurrency-friendly Trump administration.
For example, anonymous analyst Mickybull Crypto shared a chart showing XRP trading closer to the upper bound of the bull flag with a $15 upside target.
source: Mikybull Cryptography
Renowned cryptocurrency analyst Egrag Crypto has shared a bullish price prediction for XRP using Fibonacci levels and Elliott Wave theory, saying the remittance token could reach a value of $15 by May 5.
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.