Bullish Flag Breakout Can XRP Repeat Its 470% Rally Here's What Happens in the Coming Hours ⌚
XRP bullish signals indicate a potential price surge
XRP’s Super Trend Indicator has turned bullish, historically associated with massive price increases.
Key metrics and exchange activity indicated increasing bullish momentum.
The Super Trend Indicator on Ripple [XRP] 12-hour chart has flipped again, Ali, a popular analyst on X (formerly Twitter), reports.
This is significant because the last time it happened, XRP saw a 470% increase in value. The indicator, which market participants rely on to determine prevailing market trends, is now in line with the bullish narrative of Altcoin.
This signal comes at a time when XRP price recently bounced off of a bullish pennant resistance, a pattern often associated with a continuation of bullish price action.
Source: X
Altcoin exchange activity net flow increases
On-chain data from Coinglass reinforces the bullish outlook for XRP. Over the past two months, net altcoin inflows to exchanges have increased significantly, reaching some of the highest levels this year. This trend points to increased investor activity, suggesting preparations for major market moves.
XRP activity is in line with this trend, attracting a lot of attention. Historically, such spikes in net flow are associated with increased trading volume, which could lead to increased price momentum soon.
Source: Coinglass
XRP Filter Group in Focus
Coinglass reported a large XRP liquidation pool at $2.47, worth 2.87 million. This price level can act as a magnet, bringing XRP prices closer to this threshold. Large liquidation pools often attract market movements, as they represent areas where leveraged positions can be run.
The combination of this data with the bullish Super Trend reversal paints a promising picture. However, caution is still necessary as market dynamics can change quickly.
Source: Coinglass
Can XRP rally again?
The convergence of technical indicators, sequential metrics, and bullish market patterns suggests that XRP could be poised for a rally. A breakout of key resistance levels could pave the way for sustained upward momentum during this anticipated altcoin season.
At the moment, XRP has managed to break out of the bullish flag consolidation phase.
Technically, a rally to test higher highs is expected if the current bullish flag resistance holds, which is now acting as support.
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