Rippleās $XRP is turning heads again! With a 7% surge on Thursday and a total rally of 12% this week, the crypto is eyeing a critical resistance at $2.90. But can it break through and set the stage for a historic breakout? Letās dive into the action.
š§ Smart Money Is Making Moves
Data doesnāt lie: XRPās latest spike is being fueled by long-term holders, signaling strong confidence in the token.
š On-Chain Insights:
ā¢ Over $1 billion in profits were realized during this weekās pumpāthe highest since mid-December.
ā¢ However, short-term holders are cashing out, while long-term whales are doubling down, shown by rising Mean Coin Age.
This is a classic sign of accumulation, meaning the big players are holding tight as they bet on XRPās future.
š¼ Exodus from Exchanges: What It Means
XRP is flying off exchanges faster than ever. Platforms like Binance, OKX, and Bybit are all seeing net outflows, indicating a āBuy and Holdā strategy.
The only exception? Coinbase, which saw a slight influxācould U.S. investors be preparing for something big?
š„ $2.90: The Final Boss?
Technically speaking, XRP is at a make-or-break point.
ā¢ The token recently broke out of a symmetrical triangle, a classic bullish chart pattern, and is now testing the $2.90 resistance.
ā¢ A clean breakout could propel XRP to new highs, while a failure might mean a temporary retreat.
But donāt panic just yetāa short-term pullback could actually strengthen the rally as XRP gathers momentum.
š Regulatory Winds Are Shifting
On the regulatory front, XRP may be getting a boost.
ā¢ Rumors are swirling that Paul Atkins, a pro-crypto candidate, could take over as SEC Chair later this month.
ā¢ If the SEC drops its legal fight against Ripple, it would remove a massive cloud of uncertainty over XRP.
A favorable decision could be the catalyst XRP needs to rocket past $2.90 and beyond. š
ā” Warning: Overbought Signals
While the hype is real, traders should keep an eye on technical indicators:
ā¢ The RSI is flashing bullish momentum, butā¦
ā¢ The Stochastic Oscillator is in the overbought zone, suggesting a short-term cooldown might be on the horizon.
šØ The Downside Risk: $1.35
If XRP fails to hold above the triangle breakout and slips below the 50-day SMA, the price could fall all the way back to $1.35.
š The Road Ahead: Is $3+ Within Reach?
XRP is at a crossroads. Breaking $2.90 could trigger a massive rally, while failing to do so might lead to a temporary correction.
š” Pro Tip: Watch for pullbacks as potential entry points, but the real party starts above $2.90.
Will XRP make history or stumble at the finish line? The next few days will be critical!
Whatās your play? HODLing, buying the dip, or sitting this one out? Let us know below! ā¬ļø
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