XRP, the token of Ripple Labs, is showing readiness for significant growth after a bullish pattern breakout on the daily chart. Recently, the cryptocurrency market has faced difficulties, and during this period, XRP was in a consolidation phase.
XRP Price Prediction
According to expert technical analysis, XRP has broken out of a bullish flag and pole pattern on the daily chart and has closed a daily candle above this pattern. This breakout ends the token's prolonged consolidation. Based on recent price movements, there is a strong possibility that XRP could rise by 80% to reach the $4.5 level in the coming days.
On-Chain Metrics and Investor Confidence
Besides the recent breakout, XRP investors have already shown strong interest and confidence in the token, even during market difficulties. Since December 18, 2024, exchanges have recorded token inflows only on three days, despite a notable price decline across the market, as Coinglass's inflow/outflow metrics reveal. In the past 24 hours, on-chain metrics indicate that investors have withdrawn a significant 13 million XRP tokens from exchanges, highlighting the continuous accumulation by long-term holders. This ongoing accumulation could strongly support XRP in its rally.
Current Price Momentum
Currently, XRP is trading near $2.54 and has experienced a price surge of over 8.75% in the past 24 hours. During the same period, its trading volume jumped by 60%, indicating heightened participation from traders and investors.
In conclusion, recent technical indicators and investor behavior suggest a potential continuation of XRP's price growth. Despite general difficulties in the cryptocurrency market, the token shows potential for significant strengthening.
