XRP Bulls Target $3—What Drives the Price Rise Potential of Ripple?

XRP is currently trading at $2.11 and its price volatility has caused excitement among investors. Analyst EGRAG CRYPTO has highlighted key price levels that could shape the short term trajectory of this token. The focus is to stay above $2 to break above $3. A strong push through $3.20 to $3.40 will be a turning point, potentially putting XRP on a path towards the upper resistance level of $4.60. However, if the key levels are not maintained, we may see a pullback, at least in the short term. The completion of the inverted head and shoulders pattern means that XRP could extend its upward trend until April 2025. If this pattern is successful, breaking above the $3 level will push this asset to higher levels. The short term barrier is at $2.65, this level must become solid support to rise higher. A daily close above $3.00 will also reaffirm the bullish momentum and the potential for long-term gains will be greater.

Any sustainable move above $4.60 could be a sign of a potential distribution phase, a change in market sentiment. However, as long as XRP maintains its support zones, the forecast remains favorable for the next upward momentum. The legal clarity of XRP boosts investor demand. One of the main reasons for the recent strength of XRP is the legal transparency of Ripple. The legal status of XRP has changed significantly after Ripple's partial victory against the U.S. Securities and Exchange Commission (SEC). The latest actions of the regulatory agency indicate that they may be paving the way for a complete withdrawal of the appeal against Ripple's sales program. The SEC's closed meeting on March 27 has raised speculation that a final decision may soon be announced, but no official announcement has been made yet. The legal clarity surrounding XRP has positively impacted its demand as investors await the next legal developments. Eleanor Terrett commented that Ripple's lawsuit is different from other cryptocurrency lawsuits. The SEC now has to approach the Southern District Court to request Judge Analisa Torres to lift the standard injunction, which will have a significant impact on the market status of XRP.

Meanwhile, the SEC's latest litigation status report has excluded Ripple, which further increases hopes that the case is coming to a close. As these developments unfold, speculation about an XRP ETF has intensified. Nate Geraci, president of the ETF Store, believes that approval is inevitable, which is also the common view among most industry insiders.

On the cryptocurrency betting platform Polymarket, users currently estimate there is an 86% chance that an XRP ETF will be approved by 2025. An approved ETF would provide institutional investors with access to regulated XRP, leading to a significant influx of capital into the market.

Ripple's expanding ecosystem drives growth In addition to legal and regulatory factors, Ripple's strategic expansion is another key driver fueling the potential price surge of XRP. The company recently announced a partnership with Chipper Cash, a leading payment infrastructure company in Africa. As we previously reported, this collaboration will enhance cross-border transactions on Ripple's cryptocurrency payment network, providing faster and cheaper remittance services across the continent. Chipper Cash has five million customers in nine countries in Africa and plays a very important role in the financial sector in this region. Through the integration of Ripple Payments, their customers can easily receive money from anywhere in the world. This partnership is part of Ripple's broader vision of enabling more efficient global payments and enhancing the adoption of digital assets in finance. However, the combination of positive regulatory developments, the potential of ETFs, and a strong fundamental picture has made XRP one of the most attractive assets of the current cycle. If the upward momentum can be maintained, it won't be long before XRP surpasses the $3 level.