- The XRP short/long ratio is currently at 1,10, which indicates a strong bullish mood.
- If XRP closes its daily candle at or above $2.62 it could reach $4.50.
Ripple[XRP]The price of, which experienced a major drop in January 2025 on 13th, appears to be recovering and poised for an explosive rally.
A recent bullish break-out, an upcoming major political event and the recent recovery of markets after recent drops are all possible reasons to support this bullish view.
Crypto Whale purchases $76,000,000 of XRP
Investors and traders are attracted by this bullish outlook, which has led to an accumulation of significant tokens.
The market started to shift on January 14, 2024. Whale Alert Report a major transaction. The Upbit exchange was seized by a crypto whale who removed 30,000,000 XRP tokens valued at $76.15 millions.
The address of the wallet is unknown.
Bullish on-chain metrics
It is considered bullish in the crypto landscape when whales start moving assets away from exchanges into wallets. According to the firm CoinGlass, there has been an increase in interest and confidence among traders.
At the time of publication, the XRP Short/Long Ratio was at 1,10, indicating a bullish attitude among traders. At the moment, 52.50% top traders are long XRP and 47.50% short XRP.
XRP Price Action with Technical Analysis
This accumulation of long bets and increase in the number of them has occurred at a critical resistance level.
XRP’s price reached this high level in several instances, only to see it reversed due to uncertainty on the market and fluctuation.
TradingView
It appears that this time the sentiment is different. This may be due to the impending inauguration Donald Trump scheduled for 20th January 2025.
XRP price prediction
AMBCrypto’s technical analysis shows that XRP is bullish. It has retested its breakout level for the bullish pole and flag price action pattern. This pattern was broken on 11th January 2025. Currently, XRP faces horizontal resistance at $2.60.
XRP could reach $4.50 in the future if it breaches the resistance level and closes a day candle at $2.62.
XRP’s Relative Strength Index is below the zone of overbought. The asset is able to reach the expected level.
TradingView
– Realistic or not, here’s XRP market cap in BTC’s Terms
XRP, at the time this article was written, traded near $2.60. Its price has risen by over 7.15% within the last 24 hours.
The trading volume increased by 50 percent during the same time period. It indicates that traders and investors are more active than the day before.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com
