XRP Breakout Alert! Price Poised for 80% Rally
XRP, the native token of Ripple Labs, is poised for significant upward momentum after breaking out of a bullish price action pattern on the daily time frame. The cryptocurrency market as a whole has been in trouble these days, and during this period, Ripple After a long period of consolidation.
XRP Price Prediction
According to expert technical analysis, XRP has broken out of a bullish flag and extreme price action pattern on the daily time frame and closed a daily candle above the pattern. A breakout of this pattern ends XRP’s long-term consolidation. Based on the recent price action, there is a high chance that it will surge 80% to $4.5 levels in the coming days.
This bullish pattern appears to be a textbook example of an ideal buying opportunity for traders and investors looking to hold for the long term.
On-chain metrics indicate investor confidence
In addition to its recent breakout, XRP investors have shown strong interest and confidence in the token, even during periods of price struggle. According to the research firm, since December 18, 2024, exchanges have recorded token inflows in just three days, despite a significant price decline across the market. coin glass Spot inflow/outflow indicator.
$13M worth of XRP flows out of exchange
However, in the past 24 hours, on-chain indicators show that investors have withdrawn 13 million XRP tokens from exchanges, highlighting the continued accumulation by long-term holders. This continued accumulation could strongly support an XRP rally.
In addition to long-term holders, trader participation also surged. Since the breakout, XRP’s open interest has jumped 31%, indicating strong participation from traders in the market shift.
Current Price Momentum
Currently, XRP is trading close to $2.54, with the price surging by more than 8.75% in the past 24 hours. During the same period, its trading volume surged 60%, indicating increased participation from traders and investors.
