XRP, the native token of Ripple Labs, is poised for significant upside momentum following the breakout of a bullish price action pattern on the daily timeframe. Over the past few days, the overall cryptocurrency market has been struggling, and during this period, XRP experienced a prolonged consolidation.
According to expert technical analysis, XRP has broken out of a bullish flag and pole price action pattern on the daily timeframe and has closed a daily candle above the pattern. This pattern breakout has ended XRP’s prolonged consolidation. Based on recent price action, there is a strong possibility that it could soar by 80% to reach the $4.5 level in the coming days.
This bullish pattern appears to be a textbook example, indicating an ideal buying opportunity for traders and investors looking for long-term holdings.
Besides the recent breakout, XRP investors have already shown strong interest and confidence in the token, even during periods of price struggles. Since December 18, 2024, exchanges have recorded token inflows on only three days, despite a notable price decline across the market, as revealed by Coinglass’s spot inflow/outflow metrics.
However, in the past 24 hours, on-chain metrics indicate that investors have withdrawn a significant 13 million XRP tokens from exchanges, highlighting the continuous accumulation by long-term holders. This ongoing accumulation could strongly support XRP in its rally.
Besides long-term holders, trader participation has also skyrocketed. Since the breakout, XRP’s open interest has jumped by 31%, indicating strong engagement from traders amid the market shift.
Currently, XRP is trading near $2.54 and has experienced a price surge of over 8.75% in the past 24 hours. During the same period, its trading volume jumped by 60%, indicating heightened participation from traders and investors.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The spot ETF market has revealed the recent high demand for altcoins by institutional investors.…
Bitcoin (BTC) price extended its recent gains on Friday to almost retest its all-time high…
Ethereum may be on track to reach $60,000 in the next few years, according to…
Investors searching for 10x returns before 2026 need to balance ambition with realism. Many of…
Ethereum (ETH)’s success story continues to inspire traders across the market. For years, ETH has…
Cryptocurrency is steadily gaining ground in the U.S., with more people and businesses exploring digital…