XRP on the Verge of a Breakout, 40% Rally Imminent?
In the recent price decline, XRP is the local token of Ripple Labs, which has formed a price -viewing action model, and is expected to get a double -digit price rally. Today, on January 31, 2025, the entire cryptocurrency market seems to be recovering, including Bitcoin (BTC) and Ethereum (ETH), but XRP Seems to be struggling.
XRP’s current market emotions
Despite its positive market emotions, the current transaction price of XRP is close to $ 3.13, and the price has increased by more than 0.80 % in the past 24 hours. During the same period, investors and traders showed lower interest, resulting in a decrease of transaction volume by 35 %.
This moderate price increase caused XLM to surpass the income of XRP because it soared by more than 13 % in the past 24 hours. In the potential ETF negotiations, XRP traders and investors are now moving their attention to XLM.
XRP technical analysis and the upcoming level
According to expert technical analysis, XRP has formed a bullish flag and pole price action mode within the daily range, and it seems to be working hard.
According to the recent price action, if XRP successfully violates this model and close the daily candle above $ 3.21, it is likely to soar 40 % to reach the level of $ 4.50 in the future.
As the XRP’s relative strength index (RSI) is close to 59, this indicates that the assets have enough space to soar and have an impressive price increase.
XRP’s mixed flavor
From the perspective of the price of the bullish, investors seem to be accumulating tokens, as the chain analysis company revealed Small shopEssence Data from spot flow/outflow show that in the past 24 hours, the exchange has witnessed the outflow of XRP worth more than $ 12 million, which indicates that potential accumulation may lead to purchase pressure and further rising rally.
Traders bet on XRP
Although investors and whales think they look the prospects, traders in the market discovered their bets in loser. XRP’s exchange liquidation map shows that $ 3.063 is the level of over -leverage bulls, holding a long position worth $ 24.5 million. At the same time, $ 3.183 is the level of short positions worth 509 million US dollars.
The data shows that short -term short -term sellers currently dominate in the short term because they are almost twice the positions of long -term holders.
