XRP price falls despite ETF expectations: How will the battle between bears and bulls end?

The price of XRP has fallen to $3.09, equivalent to a decrease of 5.9% in a day and 5% in a week. This occurs despite "whales" accumulating more than 320 million tokens and the optimistic sentiment rising ahead of the possibility of an ETF approval in October. At the same time, experts also suggest that the price of XRP could reach double digits as the "altcoin season" approaches.

On-chain data shows a strong buying wave in recent days after the U.S. Securities and Exchange Commission officially closed the lawsuit against Ripple, ending a decade entangled in legal battles. Since Ripple launched in 2012 and during the bull run of 2017 – when XRP historically surged by 63,900% – the SEC lawsuit has always been a major barrier holding back this altcoin's price from breaking out.

Now that the lawsuit is no longer an obstacle, XRP has increased by 1.5% in the past 14 days, adding $14 billion to its market capitalization. According to analysts, the sentiment is currently leaning towards a bullish trend, as both retail and institutional investors shift from caution to a "greed" mentality for most of the week.

Can XRP reach 13 dollars**?**

XRP's price is targeting the potential rise to $13, according to trader and veteran analyst Tony Severino, who believes that the current pattern of XRP is preparing to enter the final stage before reaching a new peak.

Severino calls on everyone to prepare for the "final wave" expected to end within 40 days. According to him, the price of this altcoin could peak at around 8–13 dollars by mid-September.

Source: TradingViewAnother analyst on X has also provided a similar bullish forecast, stating that the price of XRP will increase by 333.33% to $13 if buyers create enough momentum in the short term.

Some important milestones to watch include breaking above the thresholds of $3.33, $4.44, and $5.85, according to Dark Defender. At the time of writing, XRP is trading within a descending triangle pattern at $3.09.

Some other experienced cryptocurrency experts have made bolder predictions, with Barric targeting a level of $1,000 per coin once the price surpasses $10.

These optimistic forecasts are reinforced by the RSI index at 59 on the daily XRP price chart, reflecting strong demand and upward momentum. Additionally, the Bollinger Bands are widening with XRP prices approaching the upper band, indicating a bullish signal.

XRP whales accumulate 320 million tokens

According to on-chain data, institutional interest in the XRP market is increasing, with the latest figures showing that "whales" have amassed over 320 million tokens in just 72 hours.

Analyst Ali_charts shared a chart from Santiment on his X page, showing transactions ranging from 100 million to 1 billion tokens.

Although the price action of XRP has lost the important support area around 3.35 – 3.40 dollars, the increasing interest from institutions and the flow of "smart money" could help this altcoin escape the current descending triangle pattern and break through the psychological level of 5 dollars.

Source: GalaxyBTC## What lies ahead?

The search volume for the keyword "altcoin" on Google has reached its highest level since 2021, a metric that experts tentatively interpret as a sign of "altcoin season" – a period when capital flows strongly into altcoins like ETH, XRP, and SOL.

According to the DeFi researcher named DeFi_Edward, the upcoming altcoin season will be led by the participation of institutions, funding from corporate reserve funds, and ETFs – unlike the previous season which mainly relied on retail investors.

For XRP, we also expect strong partnerships, the acceptance of stablecoins, and large-scale cross-border transactions. If everything unfolds as predicted, a price of 13 dollars for XRP is inevitable.

Minh Anh