XRP Poised for 'Face-Melting' Rally Amid ETF Hopes, Analyst Predicts

Leading crypto analyst Egrag Crypto anticipates a significant surge for XRP, projecting a "face-melting" rally within the next six weeks. This bullish forecast comes as the digital asset currently navigates a crucial descending triangle pattern, hinting at a potential breakout with historical precedents backing the prediction.

Historical Patterns Fuel Bullish Outlook

Egrag Crypto, a popular voice in the crypto community, draws parallels between XRP's current chart and its explosive movements in 2017-2018 and 2021. During the 2017-2018 period, XRP rocketed from $0.097 to $3.84 over roughly three months. Similarly, in 2021, it climbed from under $0.45 to over $1.90 within two monthly candles. Based on these historical "melt faces," Egrag expects XRP to achieve gains between 300% to 1,400% from its current price, targeting a range of $10 to $37. He notes that while some traders may be "chickening out," protecting profits is wise, but the overall sentiment suggests a test of the bulls' faith before an upward movement.

Spot XRP ETF Filing Adds New Dynamic

Adding further fuel to the potential rally is the recent move by Canary Capital to launch a spot XRP Exchange Traded Fund (ETF) in the US. Filings indicate that the firm has submitted a Form 8-A, signaling a key step towards listing its shares on Nasdaq. Crypto reporter Eleonor Terrett confirmed that this filing is set to become effective at 5:30 p.m. ET once Nasdaq certifies the listing. Should this go through, trading for the first spot XRP ETF shares could commence on Thursday, November 14, 2025, when US markets open. While an ETF simplifies investment access and draws significant attention, it doesn't automatically guarantee a price skyrocket. However, this milestone is expected to influence market behavior in unpredictable ways. At present, XRP is trading around $2.39, experiencing a modest 3% dip over the last 24 hours. Technical traders are closely monitoring its position within the descending triangle and observing trading volumes for signs of a confirmed breakout. While some view the current setup as ripe for a substantial move, others caution that today's market, with its higher trading volumes and evolving regulatory landscape, differs considerably from previous rally environments. The imminent ETF timing introduces a new layer of complexity and potential volatility for investors to watch.