XRP (XRP) might enter a quicker-than-anticipated repricing phase, as per analyst Chad Steingraber, who forecasted that the price could rise “from $2 to $10” within a year.
Key takeaways:
XRP ETFs added over 506 million XRP in a month, bolstering a $10 price forecast.
Two significant chart patterns indicate upside targets of $14–$15.
ETF demand supports a potential 400% XRP surge by 2026
Steingraber’s forecast came on the heels of strong initial interest in the new XRP exchange-traded funds (ETFs) launched in November.
These investment products amassed over $944 million worth of XRP since their debut on Nov. 13, according to data from SoSoValue. Consequently, ETFs now hold roughly 0.74% of all XRP in circulation—an impressive figure for funds less than a month old.
The analyst also highlighted XRP’s contribution to the recently launched Bitwise Crypto 10 Fund ETF (BITW). The fund commenced on Tuesday with over $1.25 billion in assets, with XRP comprising 5% of its portfolio.
“As an estimate (since Bitwise has not released exact figures yet), the Bitwise Index 10 likely holds around 30,718,290 XRP as of today,” noted Steingraber in his Wednesday post on X, adding:
“That totals 506,067,267 XRP accumulated into AUM since the launch of these funds. We’re not even a month in yet.”
Given that Bitcoin (BTC) doubled within two years of its US ETF launch, Steingraber argued that XRP has the potential to catch up. The token could reach the $10 mark by 2026, representing a 400% increase if ETF inflows persist.
XRP technical configurations indicate prices above $10
From a technical standpoint, XRP’s charts mirrored Steingraber’s optimistic outlook.
On the two-week chart, the token has entered the breakout phase of a multimonth symmetrical triangle, a pattern that typically follows extended consolidation phases and often precedes a significant trend continuation.
The breakout above the triangle’s upper trendline indicates that buyers are regaining control, with the measured move of the structure pointing towards $14-$15 in the upcoming months.
Related: XRP bulls grow louder: What will trigger the breakout toward $2.65?
A second configuration reinforced the same target range. On higher time frames, XRP seems to have formed a bull flag, a classic continuation pattern that emerges after a strong rally, followed by a downward-sloping consolidation channel.
The projected move of this structure also points towards the $14-$15 region, aligning with the triangle’s target, if XRP confirms a breakout above the flag resistance.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
