XRP Price Prediction: Confirmed Breakout Could Push XRP to $1.40

XRP (XRP) has gone up by 4% in the past 24 hours to $1.15 after breaking above a trend line resistance that could set the stage for a pronounced uptick.

After days of muted activity, trading volumes are finally picking up, rising by 37% during this period, once again accounting for at least 2% of the asset’s circulating market cap.

Short liquidations have spiked to nearly $200 million in the past day, primarily fueled by Bitcoin (BTC) and Ethereum (ETH), as both tokens are climbing by more than 2%.

Ripple has been expanding its footprint in the global digital payments industry by partnering with robust players like JPMorgan and Mastercard.

In May this year, these companies, alongside Ondo Finance, announced that they had been testing a multi-layered redemption system that moved money in and out of the blockchain.

Ondo USD-pegged stablecoin was the asset transferred within the XRP Ledger and into JPMorgan’s banking systems with the assistance of Mastercard’s Multi-Token network as the “instruction” leg.

If successful, this test could set the stage for increased adoption of the XRP Ledger as the on-chain rails for processing redemptions of tokenized funds across the globe.

Social Sentiment Toward XRP Remains Heavily Depressed

Meanwhile, Ripple USD (RLUSD), the native stablecoin of the Ripple ecosystem, has kept increasing its market cap and footprint across the crypto space. According to the latest data, the token is ranked 12th in the stablecoin segment with a market cap of $1.6 billion.

Its circulating market cap has grown by around 32x just 19 months after its launch, as Ripple continues to secure licenses across multiple top-tier jurisdictions to facilitate enterprise payments.

Despite these interesting developments on the adoption front, data from Santiment shows that social sentiment for XRP has dropped to its lowest level since July 2024, just a few weeks before President Donald Trump’s election and a favorable ruling in Ripple’s case against the U.S. Securities and Exchange Commission (SEC).

These depressed social sentiment levels persisted from June to July 2024 and preceded a strong jump in the price of the token. However, a catalyst like the ones mentioned earlier is needed to increase the token’s appeal to investors.

Right now, the market seems to have shifted its attention toward SpaceX and AI stocks and has temporarily shunned cryptocurrencies as the technology has struggled to demonstrate its real-world use cases.

However, partnerships like the one between Ripple, Mastercard, Ondo, and JPMorgan showcase the potential that blockchain tech has to revolutionize the financial industry by reducing costs and increasing transaction settlement speeds.

XRP Could Rise to $1.40 As This Bullish Pattern Seems to Be Playing Out

Meanwhile, looking at the daily chart, today’s price action favors a bullish outlook as XRP has broken out of an inverse head and shoulders pattern.

As we stated in our latest XRP price prediction article, the projected target for this pattern, once confirmed, would be $1.40 based on the size of the head.

This price zone coincides with the 200-day exponential moving average (EMA), which increases the likelihood that the market will eye this level in the next few days if the uptrend continues.