Recent data shows a significant surge in XRP price, climbing nearly 25% over the past week, driven by substantial daily ETF inflows exceeding $164 million. The introduction of Grayscale’s GXRP and Franklin Templeton’s XRPZ ETFs is credited with this rise. While XRP currently trades above $2, technical indicators suggest a potential surge to the $3.30-$3.50 range. However, resistance between $2.23-$2.50 could trigger a bearish trend, potentially pushing prices down to around $1.82. 0n Friday, XRP held within the $1.95-$2.05 support band of a prevailing parallel channel, a zone that has consistently served as support since December 2024 and frequently rebounds near its upper boundary near $3.50. If this current trend holds, XRP gains of up to 57% are projected by year-end, according to analysts. Key indicators such as the On-Balance Volume (OBV) have also contributed to the bullish shift, showing genuine buying interest as prices reached $2. Analysts GalaxyBTC and Milkybull Crypto have observed a similar structure to XRP’s breakout in 2017, with the current price action mirroring early support levels from eight years ago. While this presents potential for growth, challenges remain for XRP to sustain its upward momentum. As of Tuesday, the token was testing the 0.236 Fibonacci retracement level near $2.23 as resistance, and a decisive breakout above this level would encounter further obstacles from resistances like the 50-day and 200-day EMAs which have limited XRP’s upward attempts since early October. These EMAs align with the upper trendline of XRP’s descending channel, a pattern that has directed the price lower since the summer. If this pattern persists, XRP could return to the channel’s lower boundary, potentially dropping towards $1.82 by year-end. This would undermine the bullish setup and suggest the recent bounce was temporary. Please note that this article does not constitute investment advice, and all readers are advised to conduct their own research before making any investment decisions.