What to know:
- XRP shows a bullish recovery as the price moves above key EMA levels, signaling short-term momentum.
- MACD signals growing buying pressure, supporting a shift from consolidation to a bullish phase.
- Key resistance at $1.38 is critical, as a breakout could confirm further upward trend reversal.
Ripple (XRP) is consolidating in a bearish to bullish phase following the changing conditions in the crypto market. According to CoinMarketCap, the XRP price has surged by 4.17% over the last 24 hours but remains stable over the last week.
At the time of writing, the token is trading at $1.35, supported by a trading volume of $3.24 billion, which has surged by 96.02% over the last 24 hours. However, its market capitalization stands at $83.15 billion, which has declined by 4.17%.
Source: CoinMarketCap
Also Read: XRP Traders Down 41% on Average, Lowest Since 2022 Crash
XRP Eyes 1,100% Surge After Major Pennant Breakout
Furthermore, the token is drawing renewed attention as the crypto analyst Javon Marks points to a potential breakout, with a measured move price target just under $17.
This outlook stems from a large pennant pattern formed throughout 2024, whose breakout signals a continuation trend that could drive gains exceeding 1,100% if momentum holds and broader market conditions remain supportive.
Source: Javon Marks’ X Post
The setup draws strong comparisons to XRP’s 2017 surge, when consolidation led to a parabolic rise. Analysts caution that while the structure appears bullish, broader crypto sentiment and liquidity will be key.
If sustained, this breakout could mark a defining phase for XRP, placing it once again at the forefront of market attention and speculation.
XRP Technical Outlook Reveals Recovery Attempt
According to TradingView, XRP is on the rebound, breaking through the 20, 50, and 100-period moving averages.
The token recovered after consolidating at $1.28 and rose sharply, encountering considerable selling pressure near $1.38, which is the 200-period exponential moving average. This rejection has caused some retracement towards the 100-period moving average.
Source: TradingView
The MACD indicator gives out a signal for the change in direction in favor of bullish traders through a bullish crossover and a rising number of green bars.
However, the price must protect itself by turning $1.38 into a reliable support level to continue rising. In case of failure at the $1.34 EMA confluence, the price can head towards $1.30.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: XRP Price Analysis: Capital Inflows Could Push Price Toward $1.60
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