Key data from Santiment offers a glimmer of optimism. It shows a notable spike in active wallets on the XRP Ledger, which could signal growing interest and accumulation.

As the broader market continues to push higher, the coming days are pivotal for XRP. Investors hope for a breakout from the weeks of sideways consolidation that have kept its price action subdued. 

A decisive move above $0.55 could ignite bullish momentum and put XRP on track to catch up with the broader market rally. For now, the market eagerly awaits further developments, with many anticipating that XRP’s moment may finally be approaching.

XRP Ledger Activity Signals A Shift

XRP remains one of the most popular altcoins in the crypto market, yet many investors are increasingly concerned as the price has struggled to reclaim local highs around $0.65. Despite the lack of upward momentum, critical data from Santiment offers a glimmer of hope. 

The XRP Ledger recently experienced a significant spike in activity, with 35,799 unique wallets making at least one transfer daily, marking the highest activity level in over three months. In addition, 3,858 new wallets were created in a single day, the largest increase over seven months.

This surge in network activity is a promising sign for XRP, as spikes in active wallets and new addresses often precede major price movements. The growing interest in XRP could be an early indicator of an impending shift in price action, especially as the broader market trends upwards. 

However, the price must still exceed the local highs of around $0.65 to confirm a bullish trend. While the network data points to potential growth, the coming weeks will be crucial for XRP’s price movement. 

If it can reclaim key resistance levels, XRP may finally align with the overall market’s bullish sentiment, providing a more optimistic outlook for its investors.

Price Action: Technical Levels To Watch

XRP is trading at $0.555 after three weeks of sideways movement. It remains below the 4-hour 200 exponential moving average (EMA), but it is now testing this key indicator as resistance. 

A successful breakout above the 200 EMA, followed by consolidation and holding it as support, would likely signal a surge to higher supply zones around $0.60 and potentially $0.65. This breakout would confirm renewed bullish momentum, encouraging investors to wait for a clear upward trend.

However, if XRP fails to break above the 200 EMA and these critical resistance levels, a retrace to $0.52 or even lower could be imminent. Failing to breach this resistance would point to further consolidation or even a correction as the market seeks lower liquidity levels. 

As XRP continues to test this key technical level, the next few days will be pivotal in determining whether the altcoin can finally break out of its range-bound trading and follow the broader market’s bullish sentiment.

Featured image from Dall-E, chart from TradingView

Despite this positive news, recent price movements have concerned traders who anticipated a massive surge for XRP this cycle.

The current situation has increased caution among investors, as many are now looking for confirmation above or below the critical liquidity level. This hesitance has left some analysts sharing predictions based on the latest price action, adding uncertainty. 

As XRP hovers near this pivotal point, traders are closely monitoring whether it can break through resistance or if it will fall back, which would signal a shift in momentum. The next few days are crucial, as they will likely reveal whether the altcoin can sustain its upward trajectory or if it will succumb to market pressures, impacting not just this token but potentially the broader altcoin market. 

Analyst Expects XRP Rally Soon

XRP is currently facing serious risk as it hovers around the critical $0.50-$0.55 area. For the price to confirm a bullish continuation, it must hold above this level in the coming days. Analysts and investors are eagerly waiting for a signal that could trigger a price surge, particularly as the broader market is experiencing uncertainty following recent fluctuations.

Top analyst and investor Ali has shared an optimistic view of XRP through a technical analysis posted on X. In his analysis, Ali presents a chart illustrating the governing pattern of XRP price action since June 2022, which appears to form an ascending parallel channel.

This channel indicates a potential upward trajectory, and if this pattern continues, XRP could move toward the channel’s middle or upper boundaries, currently sitting at approximately $0.80 and $1.10, respectively. This move would represent a potential surge of 75% or more for XRP in the coming weeks.

However, this optimistic outlook hinges on XRP’s position above the critical support level. If it fails to do so, it risks a deeper correction, which could dampen investor sentiment and halt any upward momentum.

As traders watch closely for further price action and potential breakouts, the next few days will determine whether XRP can reclaim its bullish trajectory or succumb to broader market pressures. The sentiment among analysts is cautiously optimistic, and the community is poised for action based on XRP’s ability to navigate this pivotal point.

Technical Analysis: Key Levels To Watch

XRP is trading at $0.53 after losing the daily 200 moving average (MA) at $0.54 and the 200 exponential moving average (EMA) at $0.55. This recent price action has raised concerns among traders as the price struggles to maintain upward momentum.

However, the price still holds above the critical support level at $0.50, a key psychological threshold. If the price were to drop below this level, it could trigger significant selling pressure, leading to a deeper decline.

On the other hand, if bulls can reclaim both the 200 MA and EMA, it would signal a potential shift in momentum. A successful breakout above $0.65 could pave the way for a substantial rally, reigniting bullish sentiment in the market. This scenario hinges on XRP’s ability to regain its footing and gather enough buying pressure to push through these critical resistance levels. 

As traders monitor price action closely, the coming days will be crucial in determining whether the price can recover and position itself for a possible upward trajectory.

Featured image from Dall-E, chart from TradingView

This technical formation has been steadily building up, and now XRP appears poised for a significant expansion phase. Following years of underperformance caused by the ongoing SEC lawsuit and broader economic uncertainty, the market is watching closely for a potential breakout. If XRP breaks through its current resistance levels, many expect a parabolic rally, potentially leading to new highs.

Investors eagerly await confirmation of this move, viewing it as a crucial moment in XRP’s long-term market trajectory. As momentum builds, XRP’s next moves could define its performance in the coming months and its role in the broader crypto market. 

XRP Price Action Suggests A Bullish Breakout 

The entire crypto market has experienced a surge, with Bitcoin and many altcoins seeing double-digit percentage increases in price. This rally follows the Federal Reserve’s recent decision to cut interest rates by 50 bps, sparking optimism among investors who believe a new crypto bull run is on the horizon. XRP investors also feel optimistic, as analysts share promising insights suggesting positive performance in this cycle.

One prominent crypto analyst, Carl Runfelt, shared his technical analysis on X, highlighting the bullish triangle pattern that XRP has been forming since 2020. According to Runfelt, XRP could see explosive growth during this bull cycle, potentially going parabolic and rising by over 200% within weeks if the pattern breaks. The key level to watch is $0.60, which has acted as significant resistance in recent weeks.

If XRP breaks above this critical price point, it could trigger a wave of “fear of missing out” (FOMO), driving substantial demand and pushing prices to new highs. Investors are closely watching this level, anticipating a breakout that could reshape XRP’s trajectory for the remainder of the cycle.

Pivotal Liquidity Levels

XRP is currently trading at $0.587, sitting at a crucial level that could ignite a massive rally for the altcoin. After surging 15% since early September, the price is testing the weekly 200 moving average (MA) at $0.609 as resistance, a level that has held XRP down since April. Breaking through this barrier is essential for bulls aiming to extend the rally.

XRP has reclaimed the weekly 200 exponential moving average (EMA) at $0.52, a strong demand zone since early July. This level will be key in holding up the price if a correction occurs.

For XRP to continue up, the price must break the $0.60 level and reclaim the 1W 200 MA as support. A clean break above these levels would signal the potential for a larger rally and a shift in market sentiment. However, failure to close above current levels could lead to more sideways consolidation or even a deeper pullback. In that scenario, XRP may retest the weekly 200 EMA at $0.52, which could work as a critical support level.

Featured image from Dall-E, chart from TradingView