Key Insights:
XRP has broken out of a bull flag formation, indicating potential for a 480% rally toward the $17 mark in the coming months.
A shift in the ADX and a rising RSI value of 69 point to growing bullish momentum and continued buying interest among traders.
Active XRP addresses have surged by over 50% in two days, while open interest now exceeds $10 billion, reflecting strong investor demand.
On July 19, XRP saw a mild drop in value, falling from its 24-hour high of $3.53 to trade at $3.45. This decline followed a broader dip across the cryptocurrency market, where traders opted to lock in profits after recent gains. Despite the downward pressure, XRP has maintained a bullish technical structure that supports the possibility of a major upward move.
XRP has successfully breached resistance from a bull flag pattern, which often signals a continuation of upward momentum. Based on the height of the pattern’s flagpole, technical projections suggest that the price could rise by more than 480%. This would take XRP to a potential high of $17, assuming market participants maintain their current level of interest.
ADX and RSI indicators support bullish momentum
Technical indicators have added to the growing optimism. The Average Directional Index (ADX), which had been declining over the last six months, is now turning upwards. This shift typically indicates a strengthening trend. At the same time, the Relative Strength Index (RSI) has climbed to a value of 69, suggesting that buying pressure remains strong and that momentum favors continued gains.
Market sentiment around XRP has been lifted by speculation linked to the upcoming GENIUS Act, which could introduce favorable changes to US cryptocurrency regulations. Such developments are expected to enhance investor confidence and could support further price increases in the months ahead.
On-chain data shows rising investor interest
Data from Santiment revealed a significant jump in active XRP addresses, which rose from 58,000 to 88,000 within a 48-hour period. This increase indicates a surge in network activity and heightened interest from retail investors. In addition, open interest in XRP futures has exceeded $10 billion, according to Coinglass, highlighting growing participation among derivatives traders.
XRP continues to show signs of strength despite a slight price drop. Technical indicators and on-chain metrics suggest that the asset remains poised for further gains. If current momentum persists, XRP could be on track to achieve a major rally to the $17 mark shortly.
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