Ripple’s XRP has shown a strong breakout, signaling a potential price surge of 80% in the coming days.
The cryptocurrency broke out of a bullish flag and pole pattern on the daily chart, ending its long consolidation phase.
Price Prediction and Analysis
Experts predict that XRP could climb to $4.5 after this breakout. The pattern is seen as a clear buying opportunity for long-term investors.
Currently, XRP is trading at $2.54, with an 8.75% increase in the past 24 hours.
Investor Confidence Grows
On-chain data shows strong investor confidence in XRP:
Exchange Outflows: 13 million XRP tokens were withdrawn from exchanges in the last 24 hours, showing accumulation by long-term holders.
Open Interest Rise: XRP’s open interest has increased by 31%, indicating active trader participation.
Trading Volume Surge
XRP’s trading volume has jumped by 60% in the past day, reflecting increased interest from traders and investors.
If the current momentum continues, XRP may reach its predicted target, marking a significant milestone for the cryptocurrency.
Follow on Google News
Leave a comment