- XRP hit a seven-year high, fulfilling a bullish forecast with a strong triangle breakout.
- Positive moves, including increased transactions and whale activity, support XRP’s bullish momentum.
Ripple (XRP) hit a seven-year high, reaching $3.39 for the first time since January 2018, sparking renewed interest among investors.
In just eight hours, XRP recorded 2,365 whale transactions exceeding $100,000, marking the highest spike in activity since late December.
Additionally, over 511,430 new non-empty wallets were added over the past two months, reflecting strong accumulation. At press time, XRP was trading at $3.27, up 5.83% over the past 24 hours, further strengthening its bullish momentum.
XRP Surpasses $3.00 Target
Previously, AMBCrypto had highlighted a breakout of the descending channel as a key bullish indicator for XRP, with a projected target of $3.00.
The chart lines up perfectly with the recent rally, as XRP not only reached but surpassed this milestone, establishing $3.00 as a strong support level.
The continued rally of the token reinforces the validity of the previous prediction and highlights the strength of its breakout. Therefore, XRP’s ability to build on this technical pattern signals the potential for higher targets.
Source: TradingView
Triangle Breakout: XRP Breaks Above Resistance
The breakout of the symmetrical triangle constituted a major turning point, signaling a strong continuation of its uptrend. After breaking out, XRP successfully retested the $2.00 support zone and established $3.00 as its new base.
The price surpassed this level with significant momentum, supported by strong trading volumes. With these developments, the altcoin is now targeting $4.00 as the next resistance level, maintaining a clear upward trajectory.
Source: TradingView
Buy-sell tug of war: who wins?
The taker-to-sell ratio, which reflects the balance of buying and selling activity, currently stands at 0.967. This reflects an increase of 0.98% in the last 24 hours. Although this indicates slightly higher selling pressure, strong bullish momentum continues to dominate.
Therefore, buyers remain in control, supporting the price action and maintaining the uptrend of XRP. This assessment highlights the growing confidence of market players.
Source: CryptoQuant
On-Chain Activity Intensifies
The number of active addresses increased by 1.14% in the last 24 hours, signaling increasing engagement on the XRP Ledger. Additionally, the total number of transactions increased by 0.97% to 2.58 million, highlighting the intensification of on-chain activity.
These increases reflect growing investor participation and support the altcoin’s continued bullish momentum, validating the price rally.
Source: CryptoQuant
Whales on the move: what does it mean?
Whale-exchange transactions increased by 0.87% in the last 24 hours, totaling 11,126K. This increase in activity indicates that whales are actively moving XRP onto exchanges, potentially for profit.
However, the overall market response is showing resilience as strong buyer interest continues to offset any selling pressure. Therefore, the altcoin’s uptrend remains intact, supported by sustained demand.
Source: CryptoQuant
Realistic or not, here is the market capitalization of XRP in terms of BTC
XRP’s exit from the symmetrical triangle and strong chain metrics leave no doubt about its bullish trajectory. With robust support levels and increasing investor activity, the altcoin is poised to achieve higher targets.
Therefore, a price target of $15 is very achievable if current momentum persists.
