The price of XRP is showing a bullish pennant formation, which suggests that it could go up by 37% and reach $2. The 4-hour chart shows that XRP is consolidating after a previous 53.73% rally. A successful breakout above the pennant’s upper boundary could drive the token to $1.97. Market sentiment and technical data also support a bullish outlook.
As long as XRP stays above certain support levels, the bullish outlook remains intact. Binance data shows that there has been a drop of over 500 million XRP in exchange reserves, indicating reduced sell-side liquidity and rising buying pressure. High-net-worth investors have also been accumulating XRP, reflecting growing institutional and whale confidence.
The ongoing uptrend in XRP aligns with broader positive market sentiment and aligns with bullish technical patterns. At press time, XRP was trading at $1.47, with a market cap of $84.04 billion and a 24-hour trading volume of $7.72 billion.
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<p>The post Crypto News: XRP’s Bullish Pennant Formation Suggests Upward Surge to $2 Milestone first appeared on CoinBuzzFeed.</p>
