XRP price chart analysts are noting Wyckoff reaccumulation and falling wedge patterns that are painting a bullish target above $3.50.
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.
From 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.
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