XRP is currently trading around $2.30 after a 22.6% drop in the past month, with key support at $2.20 and resistance at $2.46. Despite recent volatility, year-to-date holders are still up over 350%.

Ripple Prime’s institutional trading platform and upcoming spot XRP ETF filings could drive demand, but approvals are uncertain. Price forecasts range from $1.60-$2 in a bearish scenario to $3.80-$4.20 in a bullish one.

Recent price pressure has led XRP to drop below key support levels, with resistance near $2.46. Despite short-term weakness, long-term holders are still up significantly. Buyers are waiting for clearer signals before re-entering the market.

Ripple’s expansion efforts, including Ripple Prime and strategic acquisitions, could fuel XRP’s recovery. International partnerships and regulatory clarity are key factors that could drive demand and price growth. Spot ETF approvals and institutional liquidity could also impact XRP’s price.

If Ripple Prime gains traction and spot XRP ETFs launch successfully, XRP could reach $3.80 to $4.20. However, delays in approvals or stalled growth could push XRP below $2. Regulatory clarity and institutional participation will be crucial for XRP’s next move.

Read more at Yahoo Finance: What Will Drive XRP’s Next Major Price Move?