XRP, the native token of Ripple Labs, is poised for significant upside momentum following the breakout of a bullish price action pattern on the daily timeframe. Over the past few days, the overall cryptocurrency market has been struggling, and during this period, XRP experienced a prolonged consolidation.
XRP Price Prediction
According to expert technical analysis, XRP has broken out of a bullish flag and pole price action pattern on the daily timeframe and has closed a daily candle above the pattern. This pattern breakout has ended XRP’s prolonged consolidation. Based on recent price action, there is a strong possibility that it could soar by 80% to reach the $4.5 level in the coming days.
This bullish pattern appears to be a textbook example, indicating an ideal buying opportunity for traders and investors looking for long-term holdings.
On-Chain Metrics Signal Investor Confidence
Besides the recent breakout, XRP investors have already shown strong interest and confidence in the token, even during periods of price struggles. Since December 18, 2024, exchanges have recorded token inflows on only three days, despite a notable price decline across the market, as revealed by Coinglass’s spot inflow/outflow metrics.
