XRP’s (XRPIts 28% rise from its low macro price of $1.12, pushed the realized price to a higher level. Other words, an average XRP investor is not in the negative anymore.
Can the altcoin price be pushed to $2.24 by the bulls?
Takeaways from the conference:
- Holders of XRP are in the black after recovering its $1.41 realized price.
- XRP’s symmetrical Triangle projects a 55 % rally to $2.40.
XRP has a price that is higher than its cost basis
TradingView’s data indicates that the USD/XRP pair is currently trading at 1,44 dollars, an increase of 1.6% in the last day and 5.5% for the seven-day period.
This indicates that XRP has held above the realized price. The average cost of coins based upon when they were last traded is currently $1.41. data from Glassnode.
Many XRP holders will feel a sense of relief when they realize their unrealized gains, and this is a sign that the bullish market outlook has begun.
Related: XRP price bottom signals emerge after the altcoin holds key support level
Historically, a break above this level changed the sentiment of market participants from “fear,” Reducing the selling pressure of holders in debt and encouraging them to hold.
This chart illustrates that in the mid-2024 period, when prices reclaimed their realized price following a brief time below them, they rose 460% from $0.52 to $2.90.
XRP achieved price Glassnode
Holding above $1.40 is crucial For the bulls, a breakout upward is a must.
According to XRP’s technical pricing model, on the upside the main levels of resistance are the 111 day moving average (MA), at $1.57; the 200-day MA, at $1.88; and the 365-day MA, at $2.22.
XRP Technical Pricing Model Glassnode
XRP’s symmetrical triangular target is $2.40
XRP is consolidating in the a symmetrical triangle The chart below shows that the average person is on leave for over two months.
To continue on the upward trend, the XRP/USD must close and break above the upper line of the triangle (at $1.46).
Calculated by adding the triangle height to the breakout, the measured target is $2.24 or 55% more than the current price.
XRP/USD 12-hour chart. Source: Cointelegraph/TradingView
ChartNerd, a technical analyst and trader, said that moving averages Between $1.35 to $1.40 “need to be held” Keep the bullish perspective in mind.
Chart for XRP/USD Daily Source: X/ChartNerd
Cointelegraph reportedTo confirm the potential change in trend, buyers must achieve a close of their daily candlestick above the upper trendline on a parallel channel that descends at $1.60.
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Source: cointelegraph.com
