XRP price targets $15 amid excitement over CME future launch
XRP (XRP) price has formed an asymmetrical triangle on the weekly chart, a technical pattern associated with strong trend momentum. Could this massive setup and launch of XRP futures signal the start of a rally towards $15?
CME XRP Futures It may start as early as February 10.
After days of profit-taking following the rally, XRP's price hit a seven-year high of $3.40 on January 16, down 2% over the past 24 hours.
However, XRP seems well-positioned to continue its three-month rally for several reasons, including the crypto-friendly Trump administration and macro developments.
Moreover, there are reports that the Chicago Mercantile Exchange (CME) group is preparing to introduce futures contracts for Solana (SOL) and XRP to start on February 10, pending regulatory approval. The contracts are detailed to include both standard and minor discounts.
CME website for SOL and XRP futures (screenshot). Source: X
However, this information was quickly removed from the website. A spokesperson for CME Group explained that the information from the beta version of their website was published in error.
Related: Price Analysis 1/22: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, XLM, SUI
They emphasized that no official decisions have been made about launching futures contracts for XRP or SOL.
Although there is no official confirmation, the news caused a temporary increase in XRP, which rose 3.2% in the minutes after the data was released on January 22.
Bloomberg Senior ETF Analyst James Seifert commented on the leak.
“Actually, it makes sense and if it's true, it's mostly to be expected.”
According to the leaked details, the XRP futures contract will be available in regular sizes of 50,000 XRP per lot and micro contracts of 2,500 XRP.
The XRP chart breakout points to the $15 target
The XRP/USD pair looks set to continue its bullish momentum that has been in play for the past four weeks after emerging from the backdrop of a multi-year symmetrical triangle.
XRP's price action between January 2018 and January 2025 has resulted in a symmetrical triangle pattern on the weekly chart, as shown in the image below. The price broke above the downtrend triangle at $0.68 in mid-November 2024, indicating the start of a major upside breakout.
The target is set at the distance between the low and high points of the triangle, which reaches $15, which is approximately 390% higher than the current price.
XRP/USD weekly chart with symmetrical triangle pattern. Source: Cointelegraph/TradingView
A number of analysts see XRP's adoption and charting techniques, institutional interest, and the crypto-friendly Trump administration as reasons for targeting a $15 XRP price this year.
For example, crypto analyst Mikubul Crypto shared a chart showing XRP trading near the upper border of a bullish flag with a target of $15.
Source: Mikybull Crypto
Using Fibonacci levels and Elliott Wave Theory, famous crypto analyst Egrag Crypto has shared a good price prediction for XRP, stating that the delivery token may reach the price of $15 by May 5.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
