XRP Price Could Rally Up To $33 Under These Key Conditions

• Technical analysts reveal that XRP price is trending for a push between $7 and $33.
• These could happen as the token now mirrors its 2017 and 2021 bull runs.

XRP price briefly broke to $3.65 last week, which has been its highest since its 2018 all-time high (ATH) at $3.84. Long-term technical charts and key developments within its ecosystem reinforced the token’s measured movement to where it is at present.

Technical analysts suggest that there’s a lot of fuel left for XRP price to overcome its current resistance and skyrocket beyond its ATH eight years ago.

XRP Price to $7 and $33

Ali Martinez, one of the popular technical analysts on X, revealed that the XRP price trend has already broken out from a bullish flag on the weekly chart. For him, the pattern sets the stage for the token’s rally to $15. That’s over 328% from the $3.50 price we have as of Wednesday morning (UTC).

ADVERTISEMENTMartinez didn’t set a timeframe for his latest prediction. However, judging from the chart he posted a couple of hours ago, the scenario could play out around the third or fourth quarter of this year.

Meanwhile, Egrag Crypto, another well-known crypto analyst, had a more bullish take on XRP. He says the token is still poised to emulate its previous rallies.

In this case, the trend mirroring the 2021 cycle could lead to a $7.70 top. On the other hand, emulating the 2017 cycle could result in a pump to $33. The figures represent around 120% to 843% rise from the token’s current value or 101% to 760% surge from its prevailing ATH.

ADVERTISEMENTAveraging the two cycles could accelerate XRP price to a more plausible $20 per token scenario.

Catalysts for the Rally

Several events brewing within the XRP Ledger (XRPL) and XRP token ecosystem could be the key to realizing the bullish projections of Martinez and Egrag. One is the finality of the US Securities and Exchange Commission (SEC) and Ripple case under the Court of Appeals.

Recently, Brad Garlinghouse, CEO of Ripple, confirmed that they are no longer pursuing their appeal to overturn the lower court’s decision. Instead, they would just pay their $125 million fine and focus more on building Internet of Value within XRPL.

Analysts expect the SEC to drop its appeal, too, so it could finally move on to other more pressing concerns under its jurisdiction. Its next hearing for the Ripple case in the appellate court is scheduled on August 15, which could trigger another volatility in XRP price.

Other events worth watching for are Ripple’s continued advancements in integrating its XRPL-powered solutions in businesses and governments. Last week, the company scored another major accomplishment under its partnership with Ctrl Alt and the Dubai Land Department.

The collaboration allows the tokenization of real estate title deeds, streamlining the process of buying, selling, and registering properties in the United Arab Emirates’ most populous city. Additionally, the tokenization effort unlocks fractional ownership, transparency, an added layer of security, and global access to Dubai’s real estate market.

ADVERTISEMENTLastly, positive updates in the pending spot XRP exchange-traded fund (ETF) applications in the US could also serve as catalysts for the token’s upward push. The third deadline for the SEC’s action on the filings is in August, with the final deadline set as early as October.

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