What’s driving trader predictions of XRP reaching $8 despite recent stagnation?

XRP’s potential $8 target stems from technical analysis showing a multi-year symmetrical triangle pattern nearing resolution. Traders note that XRP has lagged Bitcoin’s rally, creating a ‘catch-up’ narrative as capital rotates into large-cap altcoins.

Fundamental drivers include anticipation of Ripple’s stablecoin launch and potential resolution of its SEC lawsuit. Options markets show growing interest in long-dated XRP calls, with some institutions accumulating positions ahead of possible regulatory clarity.

However, skeptics point to XRP’s declining network activity and competition from faster payment coins. The $8 prediction assumes Bitcoin maintains its $100k+ base, making XRP’s rally contingent on broader market strength rather than standalone fundamentals.