XRP Breaks $2.26, Eyes $2.90 Amid Bullish Signals
Key Takeaways
XRP has surpassed the $2.26 USD mark, signalling a clear bullish trend. This price movement is based on a technical breakout from an inverse head-and-shoulders pattern. Despite potential selling pressure from a large transaction worth $68.7 million USD, the fundamental metrics remain strong. The market is showing high interest, both in derivatives and socially.
Technical Breakout Above $2.26 USD
XRP has broken through a key resistance level at $2.2678 USD. This breakout confirms the inverse head-and-shoulders pattern – a classic bullish indicator. Currently, XRP is trading at $2.32 USD, representing a 6.73% increase over the past 24 hours. The next price targets are $2.612 and $2.90 USD.
It is now crucial for XRP to defend the $2.2678 USD zone as new support. If the price falls below this level, the positive trend could be at risk.
Whale Transaction Raises Uncertainty
A single large investor (whale) has transferred 29.5 million XRP, valued at approximately $68.7 million USD, to the Coinbase exchange. Such movements often indicate upcoming selling pressure. If a major sell-off occurs, it could temporarily weigh on the current rally.
Derivatives Market: Strong Long Interest
Trading volume in XRP derivatives has surged by 203.98% to $10.71 billion USD. Open interest – the total of outstanding positions – also rose by 10.33% to $4.17 billion USD. Notably, 82.35% of positions on Binance Perpetuals are long, while only 17.65% are short. This imbalance could lead to increased volatility in the event of a market reversal.
On-Chain Data: NVT Ratio Declines
The Network Value to Transactions Ratio (NVT) measures the ratio of market capitalization to transaction volume. A 15.74% drop in the last 24 hours indicates more real transaction activity. This points to stronger network usage and fundamentally supports the current price increase.
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Social Activity on the Rise
XRP is once again being mentioned more frequently on social media. The social volume recently stood at 363 mentions, with a social dominance of 3.91%. While these figures remain below previous highs, the trend is upward. Increased community engagement can generate additional buying momentum.
What’s Next for XRP?
The combination of technical strength, growing interest in derivatives, and positive on-chain data suggests a continuation of the upward trend. If XRP holds the support at $2.26 USD, price targets up to $2.90 USD are realistic. The key will be whether the market can absorb the selling pressure from the whale transaction.
Our Assessment
XRP currently presents a solid overall picture. The technical breakout is clearly visible, and the fundamental data supports the movement. However, risks should not be underestimated: the high proportion of long positions in derivatives and whale activity could lead to short-term pullbacks. If you are invested in XRP or considering entering, pay close attention to the price action around the $2.26 USD level. This zone is currently the key to future developments.
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $2.28 |
| 24h % | 1.00 % |
| 7d % | 5.46 % |
| 30d % | 6.46 % |
| 60d % | 7.93 % |
| 1y % | 345.33 % |
| Official Links | Website |
| Socials | X |
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