Key Takeaways
XRP surges 5%, retests bullish breakout, and eyes $3.67 as expert predictions, strong on-chain metrics, and technical patterns signal continued upside momentum and growing investor participation.
With a 5% price uptick, Ripple [XRP] has successfully retested its bullish breakout.
This retest is not just a sign of optimism for XRP holders but also a potential confirmation of upside momentum.
Expert’s bold prediction and current price momentum
Reflecting current market optimism, a well-known crypto expert shared a bold prediction on X (formerly Twitter), stating, “XRP’s target is $3.60 next.”
The forecast was based on a flag-and-pole breakout pattern and quickly went viral, attracting 63K impressions.
At press time, XRP was trading at $3.28, up 5% in the past 24 hours. This rally follows a successful retest of its breakout and has sparked strong investor and trader participation.
According to CoinMarketCap, XRP’s 24-hour Trading Volume jumped 15% compared to the previous day.
XRP’s bullish on-chain metrics
This surge in price and trading volume is attributed to the participation of investors and long-term holders, who have begun accumulating the token.
On-chain analytics platform Coinglass reveals that $32.68 million worth of XRP tokens have been flowing out of exchanges, suggesting potential accumulation.
Additionally, this negative exchange inflow indicates strong buying pressure and could trigger a massive upside rally.
Source: CoinGlass
At the same time, traders are also following the same trend. Data shows that, for XRP, the major liquidation levels are at $3.16 and $3.31, where traders are over-leveraged.
Additionally, at these levels, they have built $122.14 million in long positions and $54.40 million in short positions, which appear to be getting liquidated as the price continues to rise.
Source: CoinGlass
When combining this on-chain data with the expert’s bold prediction, it appears that bulls are dominating and pushing the asset to maintain its bullish momentum.
Additionally, the $3.31 level seems to be the only hurdle XRP is facing; if it clears this level, the asset could see a massive price uptick.
XRP price action and technical analysis
AMBCrypto’s technical analysis revealed that XRP has turned bullish following the breakout and retest of a bullish flag-and-pole pattern formed on the four-hour chart.
At press time, the asset appeared to be facing resistance at the $3.29 level.
This level also resembles the neckline of an inverted head-and-shoulders pattern that XRP has formed on the same chart.
Source: TradingView
Multiple bullish patterns point to a strong upward outlook for XRP.
If the asset breaks and closes a four-hour candle above $3.30, it could rally another 12%, potentially reaching $3.67. XRP’s bullish scenario is reinforced by the Supertrend indicator, which is green and positioned below the current price.
This signals an active uptrend with strong buying pressure and bullish dominance.
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