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XRP’s price action can ape its 2021 rally, but ONLY IF…

2min Read

XRP’s price action over the next few days and weeks will be pretty key.

XRP's price action can ape its 2021 rally, but ONLY IF...
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  • XRP liquidations at $2.2 highlighted a profit-taking phase as bullish momentum built on the charts
  • A breakout past $3.3 could push XRP towards its 2017 highs, with key metrics supporting this rally

The crypto market has taken interest in the price action of XRP, particularly following its recent slight pullback to $2.2. During this phase, CryptoQuant reported that over $4 million worth of XRP short positions were liquidated.

Source: CryptoQuant

Despite this correction, however, XRP quickly resumed its upward trajectory. According to CryptoQuant’s reports, the declining exchange outflows following the profit-taking session hinted at a temporary pause in accumulation.

However, at the time of writing, the market appeared to be gearing up for the next move, with XRP’s Open Interest (OI) hitting its highest levels recently.

Source: CryptoQuant

Consolidation and breakout on weekly charts

On the weekly chart, XRP’s price seemed to be consolidating within a symmetrical triangle pattern, before breaking out in late November. This breakout led to a staggering 300% surge.

Source: TradingView

Although impressive, this surge is still far from the 1000% rally witnessed during the 2021 bull run.

If XRP replicates its previous bullish momentum, the $7.7-level could be within reach. However, traders are closely watching the $3.3 resistance – A significant hurdle that could define the next leg of this rally.

Signs of strength on daily chart

The daily chart painted an optimistic picture. After the recent retracement to $2.2, XRP quickly regained its bullish momentum. This price rebound alluded to strong buyer interest, even during periods of consolidation on the price charts. 

Source: TradingView

Metrics such as rising OI and reduced exchange outflows lend weight to the possibility of further gains. These indicators, together, suggested that traders may be positioning themselves for a potential breakout.

Can XRP rally beyond $3.3?

Breaking past the $3.3 resistance is crucial for the coin to sustain its bullish trajectory. If successful, the altcoin could target higher levels, potentially reaching $7.7 if market conditions resemble 2021’s rally.


Read Ripple’s [XRP] Price Prediction 2024–2025


At the time of writing, XRP’s price action and on-chain metrics offered some promising signals. Maintaining this momentum will depend on breaking key resistance levels and sustained market support.

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Kelvin Murithi is an Economic and Crypto-Asset Analyst at AMBCrypto who provides a sophisticated, data-driven perspective on the financial markets. His analysis is deeply rooted in his academic and professional background, combining macroeconomic principles with technical asset analysis. He holds a Bachelor's degree in Economics and Statistics, which provides the rigorous quantitative foundation for his work in economic forecasting and investment strategy. Prior to specializing in the digital asset space, Kelvin honed his skills as a Financial and Data Analyst, where he was responsible for analyzing complex datasets and financial models. At AMBCrypto, Kelvin leverages this powerful blend of experience to deliver insightful price analysis. He specializes in interpreting how broader economic trends impact the cryptocurrency market, while also applying technical analysis to identify key price levels and potential trading opportunities. His mission is to equip readers with a multi-layered understanding of the market, enabling them to make strategic and well-informed investment decisions.
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