The Ripple price has remained steady this week, hovering at its highest level in over a month after surging by 40% from its lowest point of the year. Ripple ( XRP ) XRP was trading at $2.27 on Monday, giving it a market cap of $136 billion, and solidifying its position as the fourth-largest cryptocurrency by market value. Several catalysts could drive XRP’s price higher this year, including its expanding role in the financial services industry and the potential approval of an exchange-traded fund. According to Brad Garlinghouse , CEO of Ripple Labs, the company is aggressively expanding its banking partnerships following the conclusion of its SEC case. Ripple aims to disrupt a global payments system long dominated by SWIFT. Another major catalyst is the potential approval of spot-based XRP ETFs. The SEC has already acknowledged applications from companies such as Bitwise, 21Shares, Franklin Templeton, and WisdomTree. You might also like: PI Network faces mounting sell pressure as future token unlocks weigh on price The agency has also recently approved futures-based XRP ETFs by firms like ProShares and Teucrium, increasing the likelihood that spot-based funds could soon follow. Polymarket data shows that the odds of Ripple ETF approvals have risen to 78%. Most importantly, JPMorgan analysts anticipate that these funds will attract over $8 billion in inflows in the first year. If this forecast is accurate, it means that XRP funds will surpass those of Ethereum ( ETH ), which has experienced net inflows of only $2.5 billion. There are early signs that XRP ETFs will have demand. The recently launched Teucrium 2x Long Daily XRP ETF has attracted over $54 million in assets in less than a month. XRP price technical analysis: Can it hit $5? XRP price chart | Source: crypto.news The daily chart shows that XRP has recovered sharply in recent weeks, rallying from a low of $1.60 earlier this month to a current level of $2.355. Price has broken above the upper side of a falling wedge pattern, typically a bullish reversal signal. The Relative Strength Index has continued rising and recently crossed above the neutral 50 level, signaling strengthening momentum. Additionally, XRP is now trading above both the 50-day and 100-day moving averages, reinforcing the bullish outlook. Therefore, the coin will likely continue rising as bulls target the psychological resistance level at $3. A move above this threshold would invalidate the head-and-shoulders pattern outlined in blue on the chart. Looking further ahead, XRP could surge past its year-to-date high of $3.40 following potential XRP ETF approvals. This could pave the way for a rally toward the next major psychological target at $5. You might also like: SEI price targets $0.40 as anticipation builds for staked SEI ETF
