XRP Price Prediction: XRP Surges 7% to Breach $1.5 Level, Officially Kicking Off a One-Sided Bull Market?
TradingKey - XRP Surges 7% to Break $1.50 Mark: Are Bulls Officially Breaking Out of Consolidation?
On September 22, Bitcoin (BTC) briefly broke above $87,000, while Ethereum (ETH) surpassed $2,800, driving the broader crypto market to surge over %. Following the collective crypto market rally, Ripple (XRP) extended its gains, surging 7% in a single day to decisively breach the key $1.50 level, briefly touching $1.57 to hit a new one-month high.
The core catalyst for this XRP rally was broad-market momentum, while the underlying drivers were the resolution of two major headwinds—the Federal Reserve's rate hike and the Clarity Act—coupled with a significant pullback in crude oil prices. As market risk appetite gradually warmed up, risk assets such as U.S. stocks and cryptocurrencies began attracting renewed buying.
In addition, the XRP Ledger is welcoming the Batch V1.1 upgrade proposal. This upgrade allows multiple transactions to be packaged into a single ledger transaction, significantly improving the efficiency of institutional cross-border payments and high-value transfers, injecting positive technological momentum into fundamentals.
Although technical upgrades and market sentiment are both exhibiting strong bullish signals in the short term, XRP still faces difficulty initiating a one-sided bullish trend. This is because the technical upgrade is only a long-term benefit that is unlikely to yield short-term results. Meanwhile, despite high crypto market sentiment, capital is concentrated in sectors corresponding to the U.S. SEC's latest innovation exemptions, such as decentralized exchange platform tokens and public chains, whereas Ripple cannot directly benefit from them.
Yesterday, several spot crypto ETFs in the U.S. recorded substantial net capital inflows, with BTC seeing over $600 million, ETH receiving $150 million, and SOL registering a net inflow of $26 million. In contrast, net capital inflows for XRP spot ETFs stood at zero, which not only capped its gains but also reflected that market bullish sentiment toward XRP is extremely muted.
From a technical analysis perspective, XRP still faces accumulated break-even selling pressure near its previous high of $1.70, where every rally approaching this level triggers selling from trapped investors and profit-takers. Therefore, as long as XRP fails to break through this resistance level, it indicates that it has not yet broken out of its consolidation pattern and has not entered a one-sided bullish upside phase.
XRP price chart, Source: TradingView
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