Ripple’s recent trademark filing for downloadable software designed to custody crypto assets has sparked speculation about how high XRP’s price could climb. As the company expands its presence in the crypto industry, analysts predict a significant rally fueled by institutional interest and favorable technical indicators.
Key Highlights:
- XRP could reach multi-month highs following Ripple’s new trademark filing.
- The filing suggests Ripple’s plans to launch a crypto wallet and offer digital asset custody services.
- XRP’s technical setup indicates a potential move toward the 123% Fibonacci level of $3.75 in the near term.
Ripple’s Trademark Filing Fuels XRP Price Speculation
Ripple has trademarked “downloadable software” for storing cryptocurrencies, a move that has generated excitement in the crypto space. With this filing, Ripple is likely preparing to introduce a crypto wallet, which could further strengthen its position in the blockchain payments industry. 
Currently, XRP is trading at $1.32, marking a 1.4% daily increase. The news of Ripple’s trademark filing has driven renewed interest in the token, as investors anticipate a major product launch in the coming months.
Pro-XRP Lawyer Predicts a Six-Month Timeline
According to pro-XRP attorney Jeremy Hogan, Ripple’s crypto custody service could be launched within the next six months. He explained that once the trademark office approves the filing, Ripple will have just six months to market and roll out the service.
“Watch for the Allowance of Use from the trademark office… Ripple only has 6 months to advertise, sell, and file a Statement of Use (SOU). You’ll know what it’s all about before the end of summer,” Hogan stated.
This development is expected to further solidify Ripple’s dominance in the blockchain-based payments sector and could send XRP’s price soaring toward $5 in the coming months.
XRP’s Price Outlook: How High Can It Go?
Several factors are aligning for a potential parabolic rally in XRP’s price:
- The possible conclusion of the SEC lawsuit against Ripple.
- A potential spot XRP ETF filing.
- Speculation about a $125 million XRP purchase by the U.S. government.
Technical Analysis: XRP’s Bullish Breakout
From a technical standpoint, XRP has broken out of a descending trendline and is now retesting its support level. If this support holds, XRP could enter a strong bullish phase, targeting the 50% Fibonacci level of $2.57 before moving toward $3.75.
Additional indicators support this bullish outlook:
- The Bollinger Bands show that XRP has turned its middle band into support, a historically strong sign of an impending uptrend.
- Each time XRP has moved above this middle band, the price has experienced significant gains.
- If the Relative Strength Index (RSI) flips above 50, it will confirm increased buying pressure, further strengthening the rally.
Could XRP Reach $5?
With Ripple’s growing digital asset offerings and a strong technical setup, many analysts believe XRP is on the path to a major rally. If momentum continues, XRP could be well-positioned for a move toward the $5 mark, making it one of the most closely watched assets in the crypto market.
