XRP value could surge 70% as Coinbase prepares for CFTC-regulated futures launch

XRP, following a significant 40% drop in the past three months, seems to be making a comeback as it holds up impressively against key technical support levels. The cryptocurrency may benefit from the upcoming listing of derivative products, including XRP futures contracts, on Coinbase’s platform, a move approved by the US Commodity Futures Trading Commission. This could potentially attract fresh liquidity and institutional interest.

Additionally, XRP’s recent consolidations mirror classic Wyckoff reaccumulation patterns, suggesting a possible broader uptrend. The cryptocurrency is currently trying to cross the “Creek” trendline, indicating a potential rally. If a “Jump Across The Creek” is confirmed, it could trigger Phase D of the Wyckoff reaccumulation pattern, leading to Phase E and a potential 70% rally aiming for $3.55. Meanwhile, the falling wedge pattern in XRP’s chart gives hope for a potential break-away toward $4.00.

However, caution is necessary. Every investment move comes with risks and thus requires extensive research beforehand. If you enjoyed this piece, feel free to show your appreciation with comments or upvotes. Article discussion is more than welcome!