XRP News Today: XRP Targets $15 as Bullish Signals Mount, Outperforming Bitcoin by 11%

Ripple’s XRP has garnered significant attention from traders and investors in May, with a bullish outlook dominating the market sentiment. Analysts have noted a potential uptrend in XRP’s technical chart, which could lead to a substantial increase in its price value.

Pseudonymous analyst Ali_Charts recently shared a post highlighting a symmetrical triangle pattern that has been forming since 2018. According to the analyst, this pattern suggests that XRP bulls could target the $15 price point in the coming weeks, potentially resulting in a 6x increase in the altcoin’s value. The symmetrical triangle pattern is typically observed during price consolidation and often precedes a significant price breakout or breakdown.

While the pattern indicates a bullish outlook, it is important to note that the sideways nature of the trend makes it primarily neutral. The bullish call could be tested if a price reversal occurs, adding a layer of uncertainty to the market's expectations.

In addition to the technical indicators, fundamental factors also appear favorable for XRP. The recent announcement of a settlement agreement between Ripple and the SEC is expected to bring an end to their legal battle. This development is anticipated to benefit both Ripple and XRP, further bolstering the bullish sentiment surrounding the cryptocurrency.

Market indicators have also flashed several buy signals for XRP, with low exchange inflows and the SuperTrend signal turning bullish for the first time since March. These signals validate the potential for a bullish uprising as XRP inches closer to the $3 price mark.

XRP has shown impressive performance, with weekly gains surpassing Bitcoin’s by over 11%. This has positioned XRP as the second-best-performing altcoin, following Ethereum. At the time of this report, XRP is valued at $2.52 per coin, reflecting the growing optimism among investors.