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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP on the Verge of a Breakout, 40% Rally Imminent?

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XRP Shines with $2.1M Weekly Inflows, Leaving Bitcoin and Ethereum in the Dust!

The post XRP on the Verge of a Breakout, 40% Rally Imminent? appeared first on Coinpedia Fintech News

Amid the recent price decline, XRP, the native token of Ripple Labs, has formed a bullish price action pattern and is poised for a double-digit price rally. Today, January 31, 2025, the overall cryptocurrency market seems to be recovering, including Bitcoin (BTC) and Ethereum (ETH), but XRP appears to be struggling.

XRP Current Market Sentiment  

Despite the positive market sentiment, XRP is currently trading near $3.13 and has experienced a modest price surge of over 0.80% in the past 24 hours. During the same period, investors and traders have shown lower interest, resulting in a 35% drop in trading volume.

This modest price surge caused XLM to surpass XRP in terms of gains, as it soared more than 13% in the past 24 hours. It appears that XRP traders and investors are now shifting their attention to XLM, amid potential spot ETF talks.

XRP Technical Analysis and Upcoming Levels 

According to expert technical analysis, XRP has formed a bullish flag and pole price action pattern on the daily time frame and seems to be struggling to break out.

Source: Trading View

Based on the recent price action, if XRP successfully breaches this pattern and closes a daily candle above the $3.21 level, there is a strong possibility it could soar by 40% to reach the $4.50 level in the future.

With XRP’s Relative Strength Index (RSI) near 59, it indicates that the asset has enough room to soar and experience impressive price gains.

XRP’s Mixed-Sentiment 

Looking at the bullish price action, investors seem to be accumulating the token, as revealed by the on-chain analytics firm Coinglass. Data from spot inflow/outflow shows that exchanges have witnessed an outflow of over $12 million worth of XRP in the past 24 hours, which indicates potential accumulation and could cause buying pressure and a further upside rally.

Traders Bet on XRP

Despite the bullish outlook from investors and whales, intraday traders found betting on the bearish side. XRP’s exchange liquidation map revealed that $3.063 is a level where bulls are over-leveraged, holding $24.50 million worth of long positions. Meanwhile, $3.183 is the level where short sellers hold $50.09 million worth of short positions.

Source: Coinglass

This data reveals that short-sellers are currently dominating in the short term, as they hold nearly double the positions of long-term holders.

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