Ripple (XRP) Crypto Price Prediction: Is a Breakout Imminent?

Ripple (XRP) crypto has been on an upward trend since November 2024, gaining 165% of its value. The recent price decline of over 8% might appeal to investors seeking buying opportunities.

Cryptocurrency XRP has witnessed a remarkable surge in value since November 2024, registering an impressive gain of 165%. However, the recent price decline of over 8% may present an attractive opportunity for investors seeking to buy the dip.

After concluding 2024 with a substantial annual gain of 237%, placing it as the third-best performing year in its history, XRP crypto price action still indicated further upside ahead, despite the recent pullback in the overall crypto market.

At press time, XRP price was noted at $2.31, indicating an intraday decline of over 4.30%. Its market cap has dropped to $132.55 Billion, ranking 4th among the top crypto coins.

XRP’s SuperTrend Indicator Presents a Buy Signal

A buy signal was once again highlighted by the Super Trend indicator for Ripple (XRP). This pattern was noted by prominent crypto analyst Ali Martinez.

A similar pattern can be observed prior to the spike that led XRP crypto to rise from $0.5028 in November 2024. If this pattern continues, analysts are anticipating a 470% surge in price that could take XRP to $13.85.

However, the XRP price is seen to be getting trapped within a bullish pennant pattern. Furthermore, the token failed to cross the $2.50 resistance over the past two weeks. As long as the XRP crypto trades below the trendline of the pattern, it may encounter further sideways movement ahead.

XRP Ready for Gains: Key Indicator Suggests Growth Ahead

An interesting pattern is observed in XRP’s Sharpe Ratio, a measure of risk-adjusted returns. This week, the ratio turned negative at -1.30, potentially indicating an upcoming price surge.

Usually, a negative Sharpe Ratio has signaled that the risk to reward for buying altcoin is favorable, especially when the asset was oversold at press time. The broader macro momentum for XRP isn’t faring much better. Despite this, XRP’s Sharpe Ratio suggested the best bet.

XRP Price Prediction: Is a Breakout Imminent?

The XRP price dropped over 5% in the last 24 hours and took support at the 20-day EMA mark. Given the current market sentiment, it is likely that XRP will remain under pressure and face difficulties in breaking past the $2.40 resistance over the next few days.

At the same time, a drop below $2 could lead to further declines toward $1.80 and $1.50. However, a change in market trends and a successful breach of the $2.50 mark could enable XRP to rise toward $3 ahead.

On the positive side, the Relative Strength Index (RSI) line stayed above the 50 threshold, indicating a neutral outlook. Also, it signaled adequate room for growth ahead.

Moreover, the CMf reading was positive at 0.09, confirming sustained liquidity inflow into the market.

Data from Coinglass showed that XRP’s Long/Short Ratio fell to 0.9550, with short positions accounting for 52%. On the other hand, long positions make up just 48%. This disparity reinforced the notion that most traders are preparing for a short-term correction in the XRP price.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.