The Super Trend indicator for XRP has shifted to a bullish trend, often associated with strong price rallies.
Key metrics and exchange activity have signaled a developing bullish momentum.
The Super Trend indicator on Ripple’s [XRP] 12-hour chart has turned bullish again, according to Ali, a prominent analyst on X (formerly Twitter).
This is significant because the last time this occurred, the value of XRP increased by 470%. The indicator that traders use to identify the current market trend aligns with the bullish narrative for this altcoin.
This signal appears as XRP's price recently bounced off the bullish pennant resistance, a pattern often associated with subsequent price increases.
Source: X
Net flow and altcoin exchange activity surge
Chain data from Coinglass further reinforces the bullish outlook for XRP. Over the past two months, net altcoin inflows to exchanges have significantly increased, reaching a yearly high. This trend suggests heightened investment activity, indicating preparation for major market moves.
XRP's activity aligns with this trend, attracting significant attention. History shows that strong surges in net flow often coincide with increased trading volume, potentially driving upcoming price momentum.
Source: Coinglass
XRP Liquidity Pool is in the spotlight
Coinglass reports a significant XRP Liquidity Pool at $2.47, valued at $2.87 million. This price level may act as a magnet, pulling XRP's price closer to this threshold. Large Liquidity Pools often attract market moves, as they represent areas where leveraged positions can be triggered.
The combination of this data with the bullish shift of the Super Trend paints a bright picture. However, risk management is necessary as market momentum can change rapidly.
Source: Coinglass
Can XRP continue to rise?
The convergence of technical indicators, chain metrics, and bullish market patterns suggests that XRP may be preparing for a price rally. Surpassing key resistance levels could pave the way for sustainable bullish momentum in this anticipated altcoin season.
Currently, altcoins have emerged from the converging phase of the bullish pennant.
Technically, a rally to test higher levels has been anticipated if the current bullish pennant resistance, acting as support, holds.
