Without them, the cryptocurrency risks remaining in a narrow price range, according to an expert.

"We anticipate the second half of 2026 will create more favorable conditions for risky assets overall. In the short term, we're currently bearish on XRP and other altcoins until Bitcoin consolidates or forms a bottom," said Jake Kennis.

He added that XRP's growth will depend, among other things, on market sentiment among retail traders and investors. However, corporate demand for the asset remains strong months after the launch of exchange-traded funds (ETFs) in January.

For XRP, it's crucial to break above $1.99 and consolidate above it. If this happens, the altcoin will confirm the end of its long-term downward trend. The next strategic target for traders will be $2.65, concluded analyst Nansen.

Earlier, Teucrium CEO Sal Gilbertie called XRP issuing company Ripple a potential competitor to American bank JPMorgan.