XRP (XRP) is capturing market attention after rebounding to $2.05, following a rare multi-year ascending triangle breakout, signaling renewed optimism among traders and investors amid improving crypto market sentiment.

The digital asset climbed nearly 6% in the past 24 hours, bouncing back from a dip near $1.81. Analysts attribute this momentum to both technical patterns and growing interest ahead of institutional developments, including Grayscale’s upcoming spot XRP ETF launch.

XRP Market Overview

As of November 23, 2025, XRP’s spot price stands at $2.048, with a 24-hour trading volume of roughly $3.64 billion, according to Brave New Coin data. Year-to-date, the token has gained approximately 150%, driven in part by positive court rulings in its ongoing regulatory challenges with the U.S. Securities and Exchange Commission (SEC) and increasing adoption within the broader crypto ecosystem.

XRP forms a multi-year ascending triangle, signaling potential bullish momentum if key resistance is broken. Source: @ChartNerdTA via X

Analysts highlight XRP’s multi-year ascending triangle pattern as a key technical factor. ChartNerd, a technical analyst specializing in long-term crypto patterns, noted on social media, “The pattern features higher lows along a green trendline with flat resistance near $0.70, which has now broken upward. Based on classical triangle measurement techniques, this could potentially target $3+.”

While ascending triangles historically signal bullish continuation in both equities and crypto markets, studies such as Bulkowski’s Encyclopedia of Chart Patterns suggest a 70–80% success rate for upward breakouts, though analysts caution that results can vary depending on market conditions.

Impact of Grayscale’s Spot XRP ETF

Investor sentiment has been further supported by the imminent launch of Grayscale’s spot XRP ETF ($GXRP) on November 24, 2025. Social-media trader STEPH IS CRYPTO, known for ETF-driven sentiment commentary, tweeted that “XRP to $5 seems fair. Buckle up!”—an opinion reflecting market enthusiasm, though not a consensus forecast.

Grayscale’s spot XRP ETF ($GXRP) goes live Monday, sparking excitement as some traders eye a potential rise toward $5. Source: @Steph_iscrypto via X

Historical ETF launches for Bitcoin and Ethereum have seen notable capital inflows, but market experts emphasize that XRP’s performance will depend heavily on liquidity, broader market sentiment, and adoption trends, rather than the ETF launch alone.

Technical Analysis and Price Outlook

TradingView analyst melikatrader94, who regularly covers XRP structures, outlined possible scenarios based on current chart patterns:

XRP’s price could rise toward $2.35–$2.45 if it breaks $2.12–$2.18, while failure to reclaim this zone may push it back to $1.90–$1.92. Source: melikatrader94 on TradingView

• Bullish Scenario: If XRP breaks and closes above the $2.12–$2.18 supply and demand zone on the weekly chart, buyers may regain control. A retest could confirm support, with the next target projected near $2.35–$2.45, following classical triangle height projection methods.

• Bearish Scenario: If XRP fails to reclaim the $2.12–$2.18 zone, downward momentum may emerge. A retest of the $1.90–$1.92 support zone could occur, with further weakness possible if the area does not hold.

These scenarios are hypothetical and intended to outline possible paths based on current structure, rather than guaranteed outcomes. Price trajectories may shift with new volume trends or market developments.

XRP Adoption and Regulatory Context

XRP’s recent rebound is also tied to regulatory clarity following key SEC rulings in Ripple’s favor. While these decisions have improved market sentiment, the case continues to involve ongoing appeals and related regulatory scrutiny, which remain relevant for investors.

Beyond legal developments, XRP’s adoption in cross-border payments and enterprise solutions contributes to its fundamental appeal. Market participants continue to monitor liquidity, exchange concentration, and macroeconomic conditions, which could influence price performance alongside technical patterns.

Final Thoughts

XRP is currently trading around $2.05, buoyed by a multi-year ascending triangle breakout and anticipation of Grayscale’s spot XRP ETF launch. Traders and investors are watching key levels between $2.12 and $2.18 for confirmation of further bullish movement, while potential dips toward $1.90–$1.92 remain plausible under a bearish scenario.

XRP was trading at around 2.04, up 5.67% in the last 24 hours at press time. Source: XRP price via Brave New Coin

With a combination of technical catalysts, regulatory developments, and institutional interest, XRP continues to attract market attention. However, outcomes will depend on broader market conditions and investor sentiment.