XRP is trading back above $2.21 after a volatile 48 hours in the crypto market, recovering from intraday lows near $2.14 and showing fresh signs of momentum heading into the second half of November. The rebound comes as traders digest a new wave of ETF-driven analysis, this time from crypto researcher Ripple Bull Winkle, who argues that XRP’s long-term structure still points to a breakout that could eventually push the asset into the $20–$30 range.
Market Holding Key Levels
TradingView data shows XRP continuing to oscillate within a broad consolidation pattern that has persisted for months. Despite sharp spikes and sell-offs, the asset has managed to maintain support above $2.10, a level that analysts say has become a critical short-term floor.
Volume on Coinbase remains healthy, reflecting ongoing interest even as the wider market experiences heightened volatility. XRP has now spent more than a week trading between $2.14 and $2.28, forming what many traders view as a tightening range.
Analyst: “XRP $20+ Isn’t Hopium, It’s ETF Math”
Ripple Bull Winkle’s latest chart highlights a multi-year bullish pennant structure visible on the XRP monthly chart. According to his assessment:
- •A pennant breakout has already begun forming.
- •The last time XRP produced a similar pattern (2016–2017), price exploded more than 36,000%.
- •The analyst believes the structural setup remains intact in 2025.
But the headline claim grabbing attention is his ETF-based argument:
“You cannot have 20 spot ETFs without major upside repricing.”
He suggests that once XRP spot ETFs begin accumulating liquidity, the mechanics of inflows, authorized participants, and institutional balance sheet weighting will force a significant long-term revaluation, similar to what spot Bitcoin ETFs did after their January 2024 launch.
Though XRP ETFs have not yet been approved, the crypto community widely expects the SEC to address all major altcoin ETF proposals in 2026 under the new regulatory framework. Market watchers say the introduction of a compliant framework earlier this year makes such approvals increasingly plausible.
What the Charts Suggest
Winkle’s chart sets a breakout support line around $1.70, with the next major resistance sitting at the all-time high: $3.30. A confirmed monthly close above that region would, in his model, open the path toward a dramatic multi-year rally.
The “pennant target” displayed on his chart stretches as high as $27–$30, though analysts caution that such projections assume sustained institutional inflows and a favorable regulatory environment.
Broader Conditions Still Driving Price
XRP’s slight recovery today also aligns with improving sentiment across large-cap altcoins, with traders rotating back into assets that held up well during Bitcoin’s recent dip under $90,000.
Additional factors supporting XRP’s rebound include:
- •Renewed speculation around Ripple’s US expansion following recent clarity from the SEC.
- •Stable on-chain activity showing increased holder conviction at current price levels.
- •ETF optimism resurfacing as crypto markets await the regulatory calendar for early 2026.
What Comes Next
XRP remains range-bound in the very short term, but analysts continue to emphasize the strength of its long-term technical structure. If Bitcoin stabilizes and macro pressure eases, traders expect XRP to attempt another move toward the $2.30–$2.35 resistance zone.
For now, the conversation dominating the XRP community is clear:
Does the bullish pennant truly set XRP up for a multi-year breakout toward $20+, and will ETF approval be the trigger?