Here’s Why XRP Price May Have a Zcash-Like Surge

XRP price has continued to underperform the crypto market this month. It has sunk into a bear market after falling by 22% from its highest point this year. Still, the Ripple price has some major catalysts that may lead to a Zcash-like surge. 

Key Catalysts for an XRP Price Surge as Zcash Did

The XRP price has major drivers that my trigger a surge that may replicate the recent Zcash price rally. ZEC price moved out of nowhere recently and surged by over 700% from its lowest point in September to its highest level this week. 

The surge happened after Grayscale announced that it will launch a ZEC fund. Notably, the recent ZEC price surge has coincided with the XRP rally that started after Donald Trump’s election. The token jumped by over 595% between November 3 and January 26. 

Fortunately, the XRP price has numerous catalysts that may trigger a parabolic move in the coming weeks. The first main catalyst is that the Securities and Exchange Commission (SEC) will likely approve most or all the spot XRP ETFs once the US government shutdown ends. 

Spot XRP ETFs by companies like Franklin Templeton, Invesco, and Bitwise will likely be received well by American investors. The recently launched REX-Osprey XRP ETF is about to get to over $100 million in assets under management, three weeks after its launch.

Meanwhile, more investors have started to stake XRP tokens through the flare network. Over $60 million XRP tokens have moved to Flare, where investor are now using it in decentralized finance (DeFi) platforms. They are using for staking and liquidity provision, which was not posible in the past. 

Meanwhile, the XRP Ledger network continues to grow in industries like decentralized finance (DeFi), real-world asset (RWA) tokenization, and stablecoins. 

Ripple Price Technicals Point to a Parabolic Move

In addition to the key XRP news, the token has some of the best technicals that will boost its price in the near term. One of these patterns is the falling wedge, which has been forming since it jumped to a record high. The two lines of this pattern are now nearing their confluence levels, which may lead to a parabolic move. 

The Ripple price has also formed a bullish pennant pattern. This pattern is made up of the flag pole and the wedge section. The coin also remains above the 200-day and 100-day Exponential Moving Averages (EMA), which is a bullish sign.

Finally, the wedge section is part of the handle section of the cup-and-handle pattern. Taken together, all these patterns point to an eventual rebound in the coming weeks. If this happens, it will jump to the year-to-date high of $3.6, followed by the psychological point at $5.