XRP Price Forecast: Analyst Predicts $20 Surge Amid 18 ETF Filings

Amonyx is calling for a big rally on XRP and is predicting it to hit $20. The reason is the increasing number of Spot XRP ETF applications filed with the U.S. Securities and Exchange Commission (SEC).

18 applications have been filed so far and big asset managers like Bitwise, Grayscale, 21Shares, Canary Capital and WisdomTree are among the applicants.

XRP ETFs will bring institutional capital into the asset, just like Bitcoin ETFs did for BTC. Analysts say regulatory approval will be the catalyst for XRP’s price breakout and will push it past the $5 and $10 levels on its way to $20.

Recent market analysis agrees with this and says ETF approval will put XRP in bullish mode. Even crypto strategist Steph is more bullish and says XRP could hit $30 based on price patterns and technical indicators.

XRP Price Correction Ends, Analysts See Breakout Ahead

Dark Defender says XRP’s price correction is over on multiple time frames (weekly, daily, 4-hour) and while minor fluctuations are possible, XRP has entered its next bullish wave with an initial target of $5.85 – potentially a new all-time high (ATH).

Key price levels highlighted by Dark Defender include:

  • Support Levels: $2.30, $2.22

  • Resistance Levels: $3.39, $5.85

CasiTrades has identified resistance zones at $2.70 and $3.05. A breakout above these levels will confirm XRP’s next bullish wave. But if it fails to hold $2.25, it could go down to $1.90 or even $1.54.

Legal Uncertainty Still a Risk for XRP’s Price

Despite the optimistic forecasts, legal expert Bill Morgan warns that the ongoing SEC lawsuit against Ripple could still weigh on XRP’s price trajectory. Without a settlement or clear regulatory resolution, uncertainty could linger, potentially affecting investor confidence.

XRP Price Chart - Source: Tradingview
XRP Price Chart – Source: Tradingview

Institutional investors typically favor regulatory clarity before committing large capital inflows. As the SEC evaluates ETF applications, the outcome of Ripple’s legal battle could play a crucial role in determining whether XRP’s bullish predictions materialize.

With 18 XRP ETF applications pending, analysts believe the cryptocurrency is primed for explosive growth. However, investors must weigh both technical and regulatory factors before positioning for a potential $20 price milestone.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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