XRP Soars: Bullish Momentum Fuels Double-Digit Gains as Market Rallies
XRP rockets past resistance—traders cheer as the embattled token stages a fierce comeback.
Market Pulse: The Ripple Effect
No fluke here—XRP's surge mirrors a broader crypto rally, though skeptics whisper about 'zombie tokens finding life support.' Liquidity floods in as sidelined capital chases the pump.
Behind the Numbers
Watch the moving averages: That golden cross wasn't just technical theater. Meanwhile, derivatives traders pile into leveraged longs like Wall Street tourists at a Bitcoin ATM.
What’s Next?
Regulatory ghosts still haunt the halls—but for now, XRP bulls couldn’t care less. Just don’t mention the SEC at the afterparty.
Key Breakout Elevates XRP’s Targets
In his recent podcast, analyst Lark Davis emphasized the significance of the breakout, noting that XRP had gathered strength within the triangle since February 2024. The decisive breakout transformed the $3 resistance into a lasting support. According to Davis, should the price withstand potential pullbacks around $3, the formation targets $4.10.
The same analysis points to $4.68 as a short-term ceiling based on the Fibonacci 1.618 extension, with the options market pricing a 19% chance of reaching $4.50 by the end of September and a 5% likelihood of achieving $7. Furthermore, Davis remarked that if Bitcoin
$0.002915 were to rise to $150,000, the $7 XRP target could gain more traction.
Market data reveals that XRP’s market capitalization soared from $185 billion to $215 billion, with a significant portion of the $23 billion trading volume attributed to institutional orders on Coinbase and Kraken. Analysts consider the increasing volume as a critical factor affirming the upward price trend.
Experts Predict $16 Peak for XRP
Blockchain analyst Ali Martinez noted the upward breakout of a seven-year symmetrical triangle in the weekly chart, suggesting that a weekly close above $3 could trigger a full-scale bull run. Historical triangle breakouts indicate potential targets for XRP of $6, $8.96, and $16.17.
Martinez additionally highlighted the recurrence of a rare golden cross signal in the market value-to-realized value ratio. The previous signal led to a 630% surge. Regulatory clarity, ETF inflows, and Ripple
$0.008392‘s global expansion with ODL and CBDC projects are primary drivers expected to support a continued rise until the end of the year according to analysts.
