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XRP Key Insights
On September 5, after recent selling pressure, XRP prices traded around $1.40. Ali Charts pointed out that if the monthly closing price stabilizes above $3.66, the target price may look towards $60. XRP exchange-traded funds (ETFs) continue to attract institutional funds, according to SoSoValue.
XRP prices point to US$60 after breaking through US$3.66
On September 5, XRP prices remained around US$1.40 while the market was weak. However, analyst Ali Martinez outlined a long-term technical path to $60.
Martinez said XRP formed a rising triangle on its monthly chart. He identified $3.66 as the main resistance level preventing a larger breakthrough. Martinez said that if the monthly closing price breaks above that level, this pattern will be confirmed. His technical forecast targets potential gains around $60.
TradingView data shows that as of press time, the XRP trading price was approximately US$1.40. The token price remains about 62% below the $3.66 breakthrough level set by analysts.
Martinez's XRP price forecast is based on a multi-year rising triangle structure. This pattern tracks rising lows below relatively fixed resistance levels. 
Source: XRP
Analysts say XRP has had this structure for nearly a decade. However, the $60 target depends first on the confirmed monthly closing price exceeding $3.66. This difference is crucial because XRP is currently well below that resistance level. Technical goals do not represent guaranteed price results.
XRP had previously rebounded from levels close to $1.00 to about $1.70. TradingView data shows that the tokens then consolidated in the $1.40 area.
Other analyst views and ETF data
Another analyst CW pointed out that the recent decline has reduced leveraged positions. CW noted that XRP's long liquidations increased as short positions also decreased. This process can reduce crowded derivatives positions after sharp fluctuations. However, this does not confirm continued spot demand or long-term breakthroughs.
Exchange traded fund data adds another factor to the XRP price outlook. SoSoValue tracks ongoing activity in U.S. XRP investment products. 
Source: SoSoValue
The SoSoValue chart uploaded shows that Bitwise XRP ETF's daily net traffic on September 4 was 0. The chart also shows the fund trading in regions around the XRP price of $1.40. Broader XRP ETF data shows institutional engagement has persisted over the past few weeks. SoSoValue specializes in maintaining traffic data for U.S. spot XRP products.
ETF demand may support market liquidity in the long term. However, ETF inflows alone do not confirm Martinez's $60 technical forecast.
Ripple gains institutional attention through the BIS test
Ripplecoin also gained institutional attention following a study by the Bank for International Settlements (BIS). The Bank for International Settlements released a working paper for September 2. Researchers tested the XRP ledger to verify official statistical data sets.
The system stores encrypted fingerprints on the XRP ledger. Users can then verify the origin of the dataset and detect subsequent tampering. Researchers store fingerprints rather than underlying statistics. This design provides public verification while retaining the confidentiality of the data.
This test represents a research proof-of-concept rather than a central bank adopting XRP. Nor does it directly affect XRP requirements.
Currently, XRP price forecasts are still subject to technical confirmation. Before the $60 target becomes relevant, XRP must first return to around $3.66.
