Bitcoin stabilizes, altcoins rebound
After falling below $92,000 on December 30, Bitcoin has stabilized in recent days and has risen above $95,000. However, Bitcoin's market share closed down 0.85% yesterday. From the trend of the past two weeks, it can be seen that the current market trend is still more favorable to altcoins.
However, overall, Bitcoin has not yet broken out of the downward trend, the direction of the market environment is unclear, and there are only more than two weeks left before Trump takes office (January 20). During this period, important economic data such as the unemployment rate, non-farm payrolls, and the consumer price index will be announced. The market is full of uncertainty, and trading recommendations are still mainly spot or low leverage, and it is not advisable to rashly increase leverage.
AI and old coins attract market hot money
In terms of altcoins, the best performing sector in recent times is the AI agent concept sector, among which the two leading platforms Virtual Protocol and ai16z have performed the best.
In addition, old coins such as XRP, XLM, ADA, HBAR, ALGO, and IOTA have once again set off a boom, with an average increase of more than 10%. The remaining altcoins have sporadic individual performances, and no obvious sector trend can be seen.
On-chain indicators highlight XRP’s bullish momentum
On-chain metrics show that exchanges have witnessed $57.55 million worth of XRP inflows.
If XRP’s daily close exceeds the $2.35 mark, its price could surge by 80% to $4.45 levels.
The data also showed that traders appeared to be betting on long positions as market sentiment was bullish.
Following an impressive 12% rally, Ripple Labs’ native token XRP is expected to maintain its upward momentum as it approaches a bullish breakout. In this uptrend, participation by traders and investors has surged, as shown by on-chain metrics including open interest, long/short ratio, and inflow/outflow data.
Rising trader interest
However, the data also shows that traders are increasingly betting on long positions as the market sentiment around XRP is bullish. At the same time, long-term holders are selling their holdings, likely taking profits after heavy accumulation during the price drop.
Long-term holders cashing out?
XRP spot inflow/outflow data shows that exchanges recorded a massive inflow of $57.55 million worth of XRP as the price broke out of consolidation and gained upward momentum. Notably, this is the first time in the past two weeks that exchanges have seen XRP inflows.
In cryptocurrencies, inflows refer to the transfer of assets from wallets to exchanges, often indicating a potential sell-off or future price decline. However, recent inflows are significantly smaller than the funds that long-term holders have accumulated over the past two weeks.
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, XRP is expected to break out of a bullish flag and extreme price action pattern on the daily timeframe. However, the price is currently facing resistance around $2.34.
XRP Price Prediction
Recent price action suggests that if XRP breaks above this resistance and confirms a breakout bullish pattern, the asset could surge by 80% to reach the $4.45 level in the future.
On the positive side, the asset’s relative strength index (RSI) currently stands at 56.85, which is below the oversold territory, suggesting that XRP has enough room for significant growth in the coming days.
Current Price Momentum
At press time, XRP is trading near $2.33, up 11% over the past 24 hours. During the same period, its trading volume has surged 30%, reflecting increased participation from traders and investors in the event of a potential breakout.
