XRP price jumped more than 5% today and hovered near the $2.5 mark while its one-day trading volume was down 25% to $9.5 billion. It’s worth noting that the crypto has faced massive volatile trading lately, slipping below the $2 mark recently. However, despite that, a renowned analyst predicted the Ripple coin price to hit $222 citing historical trends.

XRP Price Eyes Major Rally Ahead

Renowned crypto analyst EGRAG CRYPTO believes XRP price is entering a “Kangaroo Phase”, a term he uses to describe a volatile yet bullish market stage. According to his analysis, Ripple crypto is holding strong above key support levels while consolidating above Fibonacci retracement levels, signaling a potential breakout.

The expert noted that the crypto’s last major rally in 2017 followed a Fibonacci extension move, hitting the 1.618 level before making another parabolic jump. If history repeats, the XRP price could initially target $8.50 to $13, followed by a surge to $27. However, the analyst argues that a long-term Fibonacci extension move could propel the crypto to the staggering $222.

Besides, he also clarified that market cap is not a factor for those who question the impact of this robust surge in the asset’s price. “Market cap is a flawed measurement when it comes to real utility-driven assets,” he stated, dismissing skeptics who question such high price targets.

Trump’s Endorsement Fuels Optimism

Market sentiment got another boost as President Donald Trump announced plans to add XRP to the US Strategic Reserve list. This unexpected move places XRP alongside other key digital assets, potentially increasing institutional adoption and long-term value.

Trump’s pro-crypto stance has already influenced market movements, with investors closely watching regulatory shifts. If his administration follows through, Ripple’s native asset could see further gains, reinforcing bullish predictions.

XRP Lawsuit Nears Resolution, Adding Bullish Momentum

Another major catalyst for the XRP price surge is the anticipated resolution of the long-standing SEC lawsuit. A legal expert recently hinted that the Ripple Vs SEC case could conclude as early as March, sparking renewed optimism among traders.

Besides, the US SEC has dismissed a flurry of crypto lawsuits recently, which has further boosted the market sentiment. Having said that, the resolution in the long-running legal battle could significantly boost the asset’s price in the coming days.

Will XRP Follow 2017’s Price Explosion?

With historical patterns, market support, and regulatory developments aligning, the future trajectory of the XRP price looks promising. While a $222 target may seem ambitious, past cycles suggest that explosive rallies are possible.

Besides, a recent report indicates that Ripple price is primed to hit $30 by May 2025, sparking market optimism. However, despite the bullish forecasts, investors should exercise due diligence, given the ongoing volatile scenario in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.