XRP Bulls Eye $18 as Institutional Inflows Surge

XRP's recent pullback has sparked debate among analysts, with some suggesting that a price reclaim of $2.70 could signal a path to $18. The digital asset has been on a rollercoaster ride, with its price moving past $3 during the Fourth Phase of its cycle. Bulls anticipate a surge to $5.85 in the next phase, driven by high institutional inflows and general market sentiments.

Several analysts have shared these bullish sentiments, with pro-XRP lawyer John Deaton projecting a price range between $7 and $8 in the cycle peak after approving spot XRP ETFs. Deaton noted that Wall Street is attracted to the success of spot Bitcoin ETFs, which are setting sights on altcoins. Recently, several firms have filed for XRP ETFs in the United States, highlighting the scale of institutional demand. Ripple's global partnerships with centralized institutions also boost trader confidence.

XRP has recently demonstrated curious activity on its price chart, raising questions about whether this signals the beginning of "something bigger" or just another fluctuation on the volatile crypto market. The token has experienced a remarkable 367% increase against Bitcoin since November, a performance that is hard to ignore. Now, the asset has formed a golden cross on the weekly time frame, a technical indicator that typically suggests strong bullish momentum. However, the unpredictable nature of the crypto market complicates the outlook. Currently, XRP is valued at 0.000026 BTC, reflecting a 33.8% rise over the previous 24 hours, although it remains far from its record high of 0.00025 BTC set in May 2017. Achieving such heights would require XRP's market cap to exceed $1 trillion, which would result in the asset's price surpassing $24.7.