XRP News Today: XRP Eyes $34 Breakout as Double-Bottom Completes and ETF Hopes Rise

XRP is drawing renewed attention as technical analysts and market observers highlight a potential upward trajectory following the completion of a seven-year double-bottom pattern. Macro strategist Gert van Lagen notes that XRP has retested this key reversal formation and is now positioned for a potential breakout [1]. Using Fibonacci extensions, van Lagen identifies $34 as a primary price target based on the 2.00 extension level of the pattern. This development marks a structural turning point after a prolonged period of consolidation, suggesting that a move toward $34 could be a conservative estimate if bullish momentum continues [1].

Van Lagen’s analysis aligns with previous bullish forecasts, such as the recent $23 target tied to the Valhalla Gate upgrade, reinforcing the narrative that XRP is entering a new phase of growth. The current price of $3.12 leaves ample room for appreciation, particularly if the pattern’s historical precedent—similar to the 2017 breakout—plays out [1].

Meanwhile, the potential launch of XRP ETFs has sparked optimism among investors and institutional players. Steven McClurg, CEO of Canary Capital, predicts that XRP ETFs could outperform Ethereum (ETH) ETFs upon their market debut. This forecast gains momentum following the U.S. Securities and Exchange Commission’s (SEC) dismissal of its lawsuit against Ripple, which had long clouded XRP’s regulatory status [1]. The legal clarity has shifted investor sentiment, with Polymarket now assigning an 88% probability to an XRP ETF approval in 2025, up from 53% the previous week. Bloomberg analysts have raised this to approximately 95% [1].

McClurg attributes the potential ETF dominance to XRP’s unique yield structure. Unlike Ethereum, which offers staking rewards of 2–3% to holders, XRP does not provide such returns. However, this absence could be a strategic advantage for XRP ETFs, as investors won’t forgo potential staking income when investing through the fund [1]. In contrast, ETH holders already benefit from direct staking rewards, which may make ETH ETFs less appealing.

XRP’s position as a leader in blockchain-based financial services—particularly in cross-border payments and institutional settlements—further strengthens its case for ETF success. McClurg likens XRP’s role in payments to Bitcoin’s role as a store of value, suggesting that the asset’s market dominance could translate into strong demand for its ETF products [1]. The XRP community’s loyalty and engagement also position the asset to attract substantial retail and institutional interest. Canary Capital anticipates up to $5 billion in inflows for an XRP ETF within its first month, potentially exceeding early ETH ETF performance [1].

Canary Capital is preparing to launch its XRP ETF using proprietary indices for more accurate tracking, moving beyond traditional benchmarks like those from the CME [1]. This approach could offer greater precision and transparency, enhancing the appeal of the product for investors.

With regulatory hurdles diminishing and a robust technical setup in place, XRP is primed for a potential breakout. The convergence of structural, regulatory, and market-driven factors positions XRP not only for a move toward $34, but also for a broader repositioning in the cryptocurrency asset class.

Source: [1] From Double-Bottom to Moonshot: XRP Targets $34 as ETFs Gear Up to Outshine Ethereum (https://coinmarketcap.com/community/articles/689b1e83be4ae366a78a08bb/)