Top 4 Reasons XRP Price Could Surge to $5 in September

XRP price moved sideways in August as bulls struggled to retest the year-to-date high. Still, Ripple token could wake up and go parabolic and possibly hit $5 in September. This piece looks at the top four catalysts that will drive it higher.

XRP Price to Hit $5 Because of its Strong Technicals

Technical analysis on the daily timeframe provides hints that the ongoing XRP price consolidation will be brief. This chart shows that Ripple has formed three unique chart patterns that will trigger this. 

The first pattern is a falling wedge, which began forming when it reached a record high in July. This pattern is identified by drawing two down-sloping and converging trendlines. 

XRP has also created a bullish pennant pattern, with the wedge being part of its triangle. And most importantly, it has formed a cup-and-handle, a common continuation sign. 

Therefore, the longer-term Ripple price forecast is bullish, with the potential target being at $5. However, a crash below $2.6 will cancel the positive outlook.

SEC Could Approve XRP ETFs in October

The most significant driver for the XRP price is that the SEC is currently reviewing eleven XRP ETFs by firms like Canary, WisdomTree, and Franklin Templeton. 

In recent statements, the agency has placed the deadline for most of these funds to October. After making several postponements, it is likely that the Paul Atkins-led agency will not want to delay again.

Therefore, it is likely that Ripple price will surge as the deadline nears. Besides, most analysts believe that XRP funds will have substantial inflows in the first year. 

XRP Ledger is Seeing Strong Growth in RWA

Further, the coin may surge because more companies are embracing its tech for real-world asset tokenization development.

Numbers show that it has become one of the fastest-growing blockchains for RWA development. Its RWA assets jumped by 25% in the last 30 days, a trend that may accelerate in the coming months.

The biggest project in the XRP Ledger RWA ecosystem is VERT Capital, which launched a $115 million fund on the network. Other large networks are OpenEden and Ondo.

RLUSD Growth Could Boost Ripple Price

The XRP price may jump to $5 in September as the Ripple USD stablecoin continues to fire on all cylinders. It has already reached over $680 million in assets, a notable thing for an asset that was launched in December last year.

RLUSD has made several milestones since its launch. For example, it was one of the top stablecoins that was used during the recent Bullish IPO. Most recently, it was added to Horizon, the newly launched lending marketplace by Aave.

The other potential driver for the XRP price in September is that markets will be anticipating the Federal Reserve cut, which Jerome Powell has hinted about.