Key Notes
XRP price is showing signs of recovery, bouncing back from the key support of $2.80.
Odds of an XRP ETF approval have risen to 87%, with projections suggesting the ETF could attract up to $5 billion in its first month.
The SEC is reviewing 11 Ripple ETF applications, with a new decision deadline set for October after several delays.
XRP price is showing signs of recovery, bouncing back from $2.80 support, with analysts eyeing a rally to $5 and a breakout from the bull flag pattern.
The improving odds of spot XRP ETF approval could add extra momentum.
XRP Price Eyes Breakout From Bull Flag Pattern
The daily chart shows XRP price trading inside a bull flag pattern, encountering resistance at the upper trendline around $3.
In technical analysis, a bull flag forms as a small downward-sloping rectangle following a strong price rally, signaling consolidation before a potential continuation of the uptrend.
XRP price shows potential breakout from the bull flag pattern. | Source: TradingView
A daily candlestick close above $3 would confirm a bullish breakout, targeting the pattern’s projected level near $5.
This would lead to a strong 77% gain from current prices. However, bulls must first overcome resistance at the 50-day simple moving average (SMA), currently at $3.08.
Related article: Binance Dumps XRP, Whales Strike Back With Billion-Dollar Buy
On the downside, key support for XRP lies between the 100-day SMA at $2.68 and the 200-day SMA at $2.48.
Holding above this range is crucial for bulls to maintain the bull flag pattern. Crypto analyst Javon Marks noted that as long as XRP stays above $2.47, the potential upside to $4.80 remains intact.
At the current state of the market, not much has changed with $XRP‘s target at $4.80 as its prices continue to hold above a key $2.47 level!
As long as this level holds, prices may only be prepping for another +66% upside… https://t.co/p3S1yTtGfR pic.twitter.com/SPjqtCNVSl
— JAVON⚡️MARKS (@JavonTM1) September 3, 2025
XRP ETF Approval Odds Jump to 87%
Odds of XRP ETF approval. | Source: Polymarket
The primary driver behind XRP’s price momentum is the SEC’s review of 11 Ripple ETF applications from firms such as Canary, WisdomTree, and Franklin Templeton.
After multiple delays, the regulator has set an October deadline for most filings, leading analysts to adopt a more bullish outlook.
