XRP Price Targets $4 Amid Bullish Chart Pattern and ETF Momentum
XRP could be on the verge of a significant breakout, with analysts pointing to a bullish ascending triangle pattern on the charts and growing institutional interest fueled by ETF filings.
As of August 6, XRP is trading at $2.93—down 3% over the past 24 hours—but technical indicators suggest a potential rally is forming. Crypto analyst Crypto Cred has identified an ascending triangle pattern on XRP’s daily chart, a formation that typically signals weakening selling pressure and growing buyer strength. If XRP can decisively break through the resistance at $3.66, the analyst believes a rally to $4 is highly plausible. He notes this would echo a similar breakout in July that led to a 40% price surge.
Adding to the bullish narrative, another analyst, CryptoPulse, highlights a divergence between falling prices and rising trading volumes—a classic sign of accumulating strength. In a recent post, he stated that utility-driven assets like XRP are beginning to decouple from Bitcoin and attract genuine liquidity.
Meanwhile, Japan’s SBI Holdings has filed with the SEC to launch an exchange-traded fund (ETF) that includes exposure to both Bitcoin and XRP. With over $241 billion in assets under management, SBI’s move could mark a major step toward institutional adoption of XRP, especially if regulatory approval is granted. The firm is also pursuing a second ETF that combines cryptocurrencies with gold, aiming to bridge the gap between traditional and digital finance.
In the U.S., speculation is growing that the ongoing Ripple vs. SEC lawsuit could be resolved by August 15. Should that happen, approval of a U.S.-based spot XRP ETF may soon follow, further boosting investor sentiment.
Despite recent price declines and the formation of a “death cross” in XRP’s MVRV ratio, analysts remain optimistic. Momentum from institutional interest and favorable technical patterns could support a climb toward $4 in the near future.
