XRP’s Bullish Breakout, Eyes on 40% Rally
The post XRP’s Bullish Breakout, Eyes on 40% Rally appeared first on Coinpedia Fintech News
Despite a notable price decline in the past few days, XRP, the native token of Ripple Labs, has regained momentum and is poised for massive upside due to the bullish price action pattern. This bullish sentiment is driven by the strong confidence and interest that traders and investors have shown recently.
$45 Million XRP Outflow Signals Accumulation
According to the on-chain analytics firm CoinGlass, traders and investors have been betting on and accumulating XRP as its price dips, and this trend appears to be continuing. Data from the spot inflow/outflow shows that exchanges have witnessed a significant outflow of $45 million worth of XRP in the past 24 hours.
This substantial outflow from the exchanges is potentially a sign of accumulation and could create buying pressure, leading to further upside momentum, similar to the rally XRP experienced on January 28, 2025.
Apart from this, crypto whales have recently purchased a significant 120 million XRP tokens during the recent price dip, as reported by CoinPedia, strongly supporting investor interest amid the price decline.
However, these notable outflows from exchanges were observed when XRP was at the lower boundary of the falling parallel price action pattern, leading to a breakout from this bullish pattern.
XRP Price and Breakout of Bullish Flag and Pole Pattern
With strong bullish activity from long-term holders and crypto whales, XRP is currently trading near $3.18 and has experienced a price surge of over 7.5% in the past 24 hours.
However, this strong upside momentum amid the bearish market sentiment has resulted in a breakout of the bullish flag and pole price action patterns on the four-hour time frame. Considering the current price action and recent whale activity, it appears that XRP could breach the trendline resistance and potentially soar by 40% to reach the $4.45 level.
When combining this bullish price action with the recent activity of whales and long-term holders, it appears that bulls are currently dominating and could support XRP in reaching the predicted level in the coming days.
