- XRP hit a seven-year high, fulfilling bullish predictions with a strong triangle breakout.
- Positive metrics, including more transactions and whale activity, support the bullish XRP trend.
Ripple (XRP) rose to a seven-year high, hitting $3.39 for the first time since January 2018, igniting renewed interest among investors.
Within just eight hours, XRP saw 2,365 whale transactions exceeding $100K, marking the highest spike in activity since late December.
In addition, more than 511,430 new non-empty wallets were added in the past two months, showing strong accumulation. At press time, XRP was trading at $3.27, up 5.83% in the past 24 hours, confirming the upward trend.
XRP breaks the $3.00 target
Earlier, AMBCrypto marked a descending channel break is a key bullish indicator for XRP, with a projected target of $3.00.
The chart aligned perfectly with the recent rally, as XRP not only achieved but surpassed this milestone, establishing $3.00 as a strong support level.
The continued accumulation of the token reinforces the validity of the earlier prediction and reinforces the strength of its breakout. Therefore, XRP's ability to build on this technical pattern indicates the possibility of higher targets.
Source: TradingView
Triangle breakout: XRP powers the future
The break of a symmetrical triangle has been a key turning point, indicating a strong continuation of its bullish trend. After breaking out, XRP successfully retested the $2.00 support area and established $3.00 as a new base.
The price rose above this level with a big move, supported by strong trading volumes. With these developments, the altcoin is now targeting $4.00 as its next resistance level, maintaining a clear bullish trajectory.
Source: TradingView
Buy-sell tug-of-war: Who wins?
The bid-ask ratio, which reflects the balance of buying and selling activity, is currently at 0.967. This represents a 0.98% increase in the last 24 hours. Although this indicates a slightly higher selling pressure, the strong momentum still prevails.
Therefore, buyers will be in control, supporting the price action and maintaining the upward movement of XRP. This balance reflects growing confidence among market participants.
Source: CryptoQuant
Chain action heats up
The number of active addresses increased by 1.14% in the last 24 hours, indicating an increase in communication on the XRP Ledger. In addition, the total transaction volume rose 0.97% to 2.58 million, emphasizing higher activity on chain.
These increases indicate growing investor participation and support the altcoin's continued upward trend, confirming its price increase.
Source: CryptoQuant
Whales on the move: What does it mean?
Whale-to-exchange transactions grew by 0.87% over the past 24 hours, totaling 11.126K. This increase in activity shows that whales are actively transferring XRP to exchanges, which can be profitable.
However, the overall market response shows resilience, as strong buying interest continues to offset any selling pressure. As a result, the altcoin's bullish trend remains intact, supported by steady demand.
Source: CryptoQuant
True or not, here is XRP's market cap in BTC terms
XRP's break from the symmetric triangle and a strong metric on the chain leave no doubt about its bullish trajectory. With strong support levels and rising investor activity, the altcoin is on track to achieve higher targets.
Therefore, a price target of $15 is very achievable if the current trend continues.
Source: https://ambcrypto.com/ripple-this-pushed-xrp-past-its-7-year-high-whats-next/
