XRP Price Forecast: 70% Surge Likely with Coinbase Futures Launch

XRP price is showing signs of a potential breakout, powered by the upcoming launch of U.S. CFTC-regulated XRP futures on Coinbase. This development could accelerate institutional interest and add momentum to the token’s current bullish technical pattern.

Despite a pullback of nearly 40% from its recent multi-year peak of $3.40, XRP has shown resilience by holding strong above key support zones. This, coupled with mounting anticipation around the Coinbase Derivatives XRP futures launch, has market analysts predicting a significant move upward in the coming weeks.

Coinbase XRP Futures Set to Debut Under CFTC Oversight

The sentiment surrounding XRP has been lifted by news that Coinbase will introduce XRP futures contracts on April 21. The contracts, to be offered via its Derivatives platform, will be launched under the supervision of the U.S. Commodity Futures Trading Commission (CFTC).

This move is expected to increase liquidity and draw more institutional participants into the XRP market. Traders and analysts believe the launch could act as a trigger for major bullish breakouts.

Wyckoff Accumulation Signals Bullish Momentum

Technical indicators also support the bullish case. According to market analyst Charting Guy, XRP’s current price pattern is consistent with the Wyckoff reaccumulation schematic—a mid-cycle phase that often signals the continuation of a long-term bullish trend.

Since the end of 2024, XRP’s price structure has lined up with Phases A and B of the Wyckoff model. Entering April 2025, the token hit a “Spring” phase followed by a “Test,” indicating a weakening of selling pressure. As of April 21, XRP is testing a key descending trendline known as the “Creek.” Should the price break above it, it would mark the beginning of Phase D, confirming the so-called “Jump Across The Creek.”

This could pave the way for Phase E, in which XRP is projected to climb 70% toward $3.55. This target aligns with the “Last Point of Support” (LPS) area, reinforcing the bullish outlook.

Technical Patterns Reinforce Breakout Potential

Another promising sign comes from a falling wedge pattern identified by technical analyst Jobcfx. Starting in February 2025, this pattern—a classic bullish reversal structure—has gradually narrowed, with resistance currently situated around $2.20 to $2.40.

If XRP manages a breakout above this upper trendline, the price action could ignite another rally, potentially pushing the token as high as $4.00 by May. This level correlates with the price region suggested by the Wyckoff Phase E, adding another layer of validation to the optimistic forecasts.

Fibonacci Extensions Suggest Longer-Term Targets

Looking ahead, a broader bullish trajectory could unfold if XRP surpasses the $3.55 resistance. Using a Fibonacci retracement drawn from the swing high of $3.55 to the low of $0.14, the next major resistance level is estimated at $5.65. If the current bullish patterns hold and market conditions remain favorable, this upside target could materialize by June.

Related: XRP price analysts project $10 next, ‘optimistic’ target of $20

The current bullish sentiment in the broader crypto market may further support XRP’s rise. Bitcoin (BTC), for instance, is also forming a falling wedge structure. According to recent analysis, if Bitcoin confirms a breakout, it could galvanize altcoins including XRP.

Related: $2.3 Trillion Liquidity Shock: Franklin Templeton Says XRP Is Next in Line for Massive Inflows

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any financial decisions.