XRP is showing promising signs of a bullish rally, with technical indicators suggesting the price could rise to $4 in the near term.
According to Ali Martinez, a well-known crypto expert, XRP has recently broken out of a bullish flag pattern, a formation that often indicates the continuation of an uptrend after a period of consolidation.
This breakout could drive XRP’s price upwards by over 20%, targeting $4, which would mark a significant gain from its current value around $3.20.
Another analysis from MikybullCrypto highlighted a bullish pennant pattern on the 4-hour chart, reinforcing the idea that XRP is poised for a “monstrous move.” If the token breaks above the pennant’s upper trendline, it could push XRP towards $3.60 or higher.
XRP’s recent momentum has also been fueled by political and regulatory factors, including Donald Trump’s election, which many believe will benefit digital currencies, and Gary Gensler’s departure from the SEC.
The legal battle between Ripple and the SEC remains a key influence on XRP’s price, with some minor victories for Ripple recently.
As of now, XRP is trading around $3.13, showing a 25% gain over the past week. If it can hold above the $3 support level, the $4 target remains in play. However, a drop below this level could halt the bullish momentum.
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