- XRP hit a seven-year-high, fulfilling a bullish prediction with a strong triangle breakout.
- Positive metrics, including increased transactions and whale activity, support XRP’s bullish momentum.
Ripple [XRP] has climbed to a seven-year-high, hitting $3.39 for the first time since January 2018, igniting renewed interest among investors.
Within just eight hours, XRP saw 2,365 whale transactions exceeding $100K, marking the highest spike in activity since late December.
Additionally, over 511,430 new non-empty wallets were added in the past two months, reflecting strong accumulation. At press time, XRP was trading at $3.27, up by 5.83% in the last 24 hours, solidifying its upward momentum.
XRP smashes $3.00 target
Earlier, AMBCrypto had highlighted a descending channel breakout as a key bullish indicator for XRP, with a projected target of $3.00.
The chart perfectly aligned with the recent rally, as XRP not only achieved but surpassed this milestone, establishing $3.00 as a strong support level.
The token’s continued rally reinforces the validity of the earlier prediction and underscores 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 powers past resistance
The symmetrical triangle breakout has been a major turning point, signaling a strong continuation of its bullish trend. After breaking out, XRP successfully retested the $2.00 support zone and established $3.00 as a new base.
The price surged above this level with significant momentum, supported by strong trading volumes. With these developments, the altcoin is now targeting $4.00 as its next resistance level, maintaining a clear bullish trajectory.
Source: TradingView
Buy-sell tug-of-war: Who’s winning?
The taker buy-sell ratio, which reflects the balance of buying and selling activity, currently stands at 0.967. This reflects a 0.98% increase in the last 24 hours. Although this indicates slightly higher sell-side pressure, the strong bullish momentum continues to dominate.
Therefore, buyers remain in control, supporting the price action and sustaining XRP’s upward trend. This balance highlights the growing confidence among market participants.
Source: CryptoQuant
On-chain activity heats up
The number of active addresses increased by 1.14% in the past 24 hours, signaling rising engagement on the XRP Ledger. Additionally, the total transaction count rose by 0.97% to 2.58 million, emphasizing heightened on-chain activity.
These increases reflect growing investor participation and support the altcoin’s continued bullish momentum, further validating its price surge.
Source: CryptoQuant
Whales on the move: What does it mean?
Whale-to-exchange transactions grew by 0.87% over the last 24 hours, totaling 11.126K. This rise in activity indicates that whales are actively moving XRP to exchanges, potentially for profit-taking.
However, the overall market response shows resilience, as strong buying interest continues to offset any selling pressure. Consequently, the altcoin’s bullish trend remains intact, supported by sustained demand.
Source: CryptoQuant
Realistic or not, here’s XRP market cap in BTC’s terms
XRP’s breakout from the symmetrical triangle and strong on-chain metrics leave no doubt about its bullish trajectory. With robust support levels and rising investor activity, the altcoin is on track to achieve higher targets.
Therefore, a $15 price target is highly achievable if the current momentum persists.
