Analysts and investors alike are closely watching Ripple’s native token, as recent market developments and filings with the U.S. Securities and Exchange Commission (SEC) point toward increasing momentum.

Technical Patterns Hint at Imminent XRP Breakout

Popular market analyst Francis Hunt, known in crypto circles as The Market Sniper, recently reiterated his bullish outlook on XRP price action. Reflecting on a past prediction, Hunt noted that his team had correctly called XRP’s peak at $3.36, which was followed by a notable pullback.

Crypto market analyst Francis Hunt has issued a bullish forecast for XRP, citing technical patterns and key support levels that indicate a potential breakout. Source: Francis Hunt on YouTube

Since then, XRP has been forming a falling wedge pattern—a technical setup often associated with bullish reversals. “Falling wedges usually resolve to the upside,” Hunt explained, suggesting XRP could be preparing for a renewed uptrend. The key level to watch, according to him, is the $2 support zone, which has consistently attracted buyer interest despite short-term dips.

“There are strong hands at $2,” Hunt stated, implying that institutional or long-term investors may be reinforcing XRP’s price stability in that area.

Webus Files SEC Proposal for $300M XRP Treasury

Adding to the bullish backdrop, China-based Webus International made headlines this week by filing with the SEC Ripple to raise $300 million for an XRP treasury strategy. The proposal, submitted via Form 6-K, outlines Webus’ plan to leverage Ripple-powered payments and adopt XRP as part of its strategic financial reserves.

Chinese firm Webus International has filed with the U.S. SEC to raise $300 million for an XRP-focused corporate treasury strategy. Source: X

To implement this initiative, Webus partnered with Samara Alpha, an asset management firm, which will support the creation of a corporate XRP reserve. The move reflects growing corporate interest in Ripple crypto solutions for enhancing cross-border transactions, particularly in the hospitality and travel sectors.

Webus is not alone. On the same day, VivoPower, a renewable energy firm, announced a $121 million XRP-focused treasury. The string of institutional moves follows Coinbase Derivatives and CME Group’s recent introduction of XRP futures contracts, reinforcing confidence in Ripple market infrastructure.

XRP Price Action: Sideways Movement But With Bullish Undercurrents

At the time of writing, XRP value stands at around $2.22, consolidating between short-term support at $2.20 (50-period EMA) and resistance at $2.26 (100-period EMA). The inability to break the $2.27 resistance has led to a pullback, despite rising derivatives market open interest—now at $4 billion.

XRP was trading at around $2.22, down 0.7% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

This rise in open interest, alongside short liquidation volume reaching $1.81 million, could create the conditions for a bullish reversal. However, a cooling Relative Strength Index (RSI) currently nearing the neutral 50 level signals potential indecision in the market.

XRP Battles Resistance Zones as Bears Lurk

While the longer-term sentiment appears cautiously optimistic, XRP still faces critical resistance between $2.30 and $2.34. A successful breakout above this zone could open doors to $2.44 and $2.62, paving the way for a bullish continuation. On the flip side, failure to breach this level risks the formation of a head and shoulders pattern—a bearish setup that could pull XRP price back below $2.

To confirm an uptrend, analysts emphasize the importance of XRP closing above $2.34, and ideally $2.44, to avoid any short-term bearish traps.

Broader XRP Price Prediction and Long-Term Support

Zooming out, analysts tracking XRP through Elliott Wave Theory suggest the token could be in the fifth wave of a larger bullish cycle, potentially targeting $5.65 if market momentum aligns. The key for maintaining this long-term bullish structure lies in XRP holding above the $1.21 to $1.55 support range. A fall below this threshold may signal the beginning of a deeper correction.

XRP is holding above the $2.13 critical support, signaling a potential bullish breakout ahead. Source: Thetradinglord28 on TradingView

Despite regulatory uncertainty stemming from the XRP lawsuit, the consistent inflow of corporate interest and rising technical support levels are offering hope to long-term holders. The Ripple lawsuit has long cast a shadow over investor sentiment, but signs of progress, such as the SEC dropping its appeal earlier this year—continue to shape XRP lawsuit news in a more favorable light.

Final Thoughts

As institutional players deepen their exposure and traders monitor technical indicators, the spotlight remains firmly on Ripple XRP news. Whether XRP decisively breaks higher or succumbs to selling pressure near resistance zones will determine the token’s next major move.

In the words of analyst Francis Hunt, “Accumulation and patience may be key heading into the next major leg up.” For now, XRP stands at a critical juncture—poised between consolidation and potential breakout, with both technical and fundamental factors at play.

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Filed under: Bitcoin - @ June 5, 2025 6:03 pm