XRP is currently trading at 2.59 dollars, up 6.1% in the past 24 hours and recording a growth of 15.8% over the past week. The trading volume of XRP also reached 6.4 billion dollars, up 28.2% compared to the previous day, indicating market dynamism and a strong increase in trading activity.
According to chart analysis, XRP is currently breaking out of a large symmetrical triangle pattern that has lasted for several years, formed from 2018 to 2024. This is a strong indication of a change in trend for this cryptocurrency. This pattern is reminiscent of a similar structure of XRP in 2017 when the cryptocurrency experienced a strong price surge after completing an accumulation phase. If history repeats itself, we may witness a strong second breakout of XRP in the near future.
The current XRP price chart shows a clear breakout and price maintenance above 2.54 dollars, further reinforcing confidence in the strength of the current trend. After breaking away from the symmetrical triangle pattern, XRP has left behind many important resistance levels, demonstrating a strong continuation of the price uptrend.
The RSI index is currently in the overbought zone, the highest level since 2017. This indicates an increase in momentum and the potential continuation of the current price surge. With the emergence of these signals, both investors and analysts expect a next breakout for XRP.
Whale trading: Strong speculative momentum
Another notable factor is the strong increase in trading activity among whales in the XRP market. According to data from Whale Alert, a transaction worth over 101 million dollars (equivalent to 40 million XRP) was just transferred between unidentified wallets. Additionally, another transaction involving 25.49 million XRP was also transferred from a private wallet to the Coinbase exchange. These large transactions are often signs of upcoming market activities, drawing increased attention from the investment community.
Although the specific purpose of these transactions remains unclear, they certainly contribute to increasing attention and predictions about the next trend of XRP, especially in the context of XRP's price showing a strong growth trend.
New target: 9.63 dollars
Analysts, including Javon Marks, have given quite positive forecasts about the future of XRP. Based on fractal analysis and extended Fibonacci, he believes that XRP can continue its upward momentum and conquer the price of 9.63 dollars in the near future. He also notes that the history of XRP shows that this continuation of the upward trend is entirely feasible, and it could even exceed the above target.
"The history of XRP still indicates that the next price surge could reach 9.63 dollars, or even higher."
The technical structure of XRP remains bullish as long as the value of this cryptocurrency stays above 2 dollars. The continuation of XRP's consolidation and maintenance at higher price levels could be a key factor to set the stage for a second price surge, fully consistent with established historical patterns.
Overall, XRP is undergoing a promising phase with a strong breakout from key resistance levels and is maintaining a price above 2.54 dollars. Technical indicators and whale activity suggest that a strong upward momentum may continue in the near future, with the nearest target being 9.63 dollars. However, investors should pay attention to monitor the market and the volatility of influencing factors to make accurate decisions.
Thus, XRP is facing a great opportunity to continue its price increase journey, and the current signals suggest that this cryptocurrency still has a lot of potential in the future.