Ripple (XRP) Price Primed for A 222% Breakout Amid Bullish Signals
NOIDA (CoinChapter.com)— The Ripple (XRP) price has seen minimal gains recently, even as other major cryptocurrencies like Ethereum and Solana posted substantial increases. Despite XRP’s sluggish performance, several key signals suggest the potential for a price surge.
Notable predictions and large whale movements highlight XRP’s potential for upward momentum.
Bullish Cues: Strong Signals, But Caution Required
Several factors point to a potential bullish breakout for XRP. A prominent signal comes from crypto trader Bitlord, who has predicted that XRP is primed for a significant price increase.
Bitlord’s forecast stems from his past accurate predictions, such as his July 11 call, which resulted in a 48% rise in Ripple prices within days. The analyst’s recent claim that XRP is “ready” for a parabolic move, possibly within a 24-hour window, has garnered attention, though it remains speculative.
Analysts remain bullish on XRP price prospects.
Another key indicator is whale activity. Whale Alert flagged a 17.31 million XRP transfer to Bitstamp, valued at over $10 million. While large transactions like this can sometimes signal accumulation, they often lead to mixed outcomes.
A transfer to an exchange like Bitstamp could imply an upcoming sell-off, as whales typically move assets to exchanges when preparing to liquidate. This introduces a level of uncertainty to the otherwise bullish narrative.
Furthermore, Ripple’s token movements raise questions. Recently, Ripple moved 200 million XRP, a potential sign of strategic positioning. However, the lack of clarity around the intent of these transactions warrants caution, as past movements have had varied impacts on the Ripple token’s price.
XRP Price Moving Inside Bullish Triangle
Meanwhile, the XRP USD pair has formed a bullish technical setup called the ‘ascending triangle.‘
XRPUSD pair formed a bullish setup with a 222% upside target. Source: Tradingview
The pattern occurs when a horizontal resistance line connects swing highs while an ascending trendline links higher swing lows. This setup suggests increasing buying pressure as the price approaches the resistance level.
The ascending triangle formation indicates that buyers are gaining strength, and a successful breakout could lead to further upward momentum for the XRP USD pair. This technical setup provides a clear framework for assessing potential price movements in the near term.
In technical analysis, the pattern’s price target is calculated by measuring its height and projecting it from the breakout point. This calculation suggests a price target near $1.9 for the XRP coin price, a spike of 222% from the current level.
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