XRP price eyes 70% rally ahead of CFTC-regulated futures launch on Coinbase
XRP (XRP) has dropped nearly 40% since hitting its multi-year high of $3.40 three months ago. Still, its ability to hold above key technical support levels, combined with a potentially market-shifting derivatives listing, has prompted some analysts to maintain a bullish outlook for the months ahead.XRP/USD daily price chart. Source: TradingViewCoinbase XRP futures may launch on April 21From a fundamental perspective, XRP may receive a boost from the anticipated launch of XRP futures contracts on the Coinbase Derivatives platform, scheduled for April 21 under the US Commodity Futures Trading Commission’s (CFTC) oversight.Source: XThis development may inject fresh liquidity and institutional interest into the market, helping catalyze the technical breakouts projected above.XRP price chart painting Wyckoff reaccumulation XRP’s ongoing consolidation phase resembles a classic Wyckoff reaccumulation pattern, according to technical analyst Charting Guy.The Wyckoff reaccumulation pattern is a mid-cycle structure that often precedes the next leg of a broader uptrend.
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Source: cointelegraph.com
Published: April 21, 2025
