XRP Forming 'Slingshot' For New All-Time High Price As Buyer Pressure Returns

XRP has begun showing signs of renewed buyer interest after breaking out of a key support level earlier this week. Price action suggests the asset is forming a bullish W pattern, with a potential to test historical highs. Analysts are closely monitoring the next leg higher, which could be triggered by a retest of the $1.45–$1.60 range.

Technical indicators point to a potential continuation of the upward trend, supported by a symmetrical triangle breakout observed on the monthly chart. Chart Nerd's analysis highlights Fibonacci extension levels at $8, $13, and $27 as possible targets. These levels are based on historical pattern comparisons from 2017 and 2024.

Meanwhile, geopolitical tensions between the U.S. and Iran continue to weigh on the broader market. Escalations in the conflict have pushed oil prices above $100, delaying expected Federal Reserve rate cuts. This dynamic has caused both Bitcoin and XRP to act as risk assets, with prices falling in sync with traditional equities.

What Catalysts Could Drive XRP Higher?

Egrag Crypto notes that XRP is in the second phase of a bullish W pattern. A reclaim of the $1.60–$1.80 range is seen as the first trigger for a larger move, while a breakout above $2.00 would confirm the trend. This would align with a 25%-35% probability of reaching $22.

Chart Nerd's analysis adds another layer of technical support, with Fibonacci levels suggesting $8 as the near-term target. The $13 and $27 levels represent more aggressive projections, contingent on broader macroeconomic conditions and market sentiment.

How Is the XRP Network Performing Amid ETF Weakness?

Despite ETF outflows and mixed institutional sentiment, XRP's underlying network continues to show strength. The XRP Ledger now supports over 5.66 million wallets holding less than 100 XRP, indicating broad participation across retail investors.

Order book data also shows strong buy-side depth, suggesting sustained interest in the asset. This contrasts with the recent $25.9 million loss reported by a Bitwise ETF on its XRP holdings, highlighting diverging signals between on-chain and institutional metrics.

What Risks Remain for XRP and the Crypto Market?

The U.S.-Iran war remains a dominant factor. Continued oil price spikes and geopolitical uncertainty are likely to keep Fed rate cut expectations muted, limiting risk-on sentiment. For bullish catalysts such as the SEC's potential commodity classification of XRP to take effect, oil prices would need to fall back to the $80–$85 range.

Standard Chartered analysts project a $28 target for XRP by 2030, but this is contingent on a $8–$10 trillion global crypto market. Until then, volatility is expected to remain elevated.

What Is the Path to a New All-Time High for XRP?

The road to a $27 price target will depend on both technical and macroeconomic factors. A retest of the $1.45 level is expected before the next upward move, and reaching $8 would be a critical near-term milestone.

Egrag Crypto's bullish case requires a reclamation of $2.00 and a continuation of the current macro cycle. This scenario would support a 25%-35% probability of reaching $22, while a more moderate peak within $3–$8 has a 50%-60% chance.

Investors should also monitor the geopolitical landscape. Any de-escalation in the U.S.-Iran conflict could unlock broader risk appetite, allowing XRP and the wider crypto market to benefit from a return of institutional capital and ETF inflows.