XRP Price Surge: 75% Rally Possible?
XRP experienced a significant price increase of approximately 6.50% in 24 hours, reaching $2.20 on June 28th. This surge followed news of Ripple dropping its cross-appeal against the SEC. This rally builds on XRP's impressive 575% price boom since November. Let's analyze the potential for further growth.
XRP Symmetrical Triangle: A 75% Rally?
Since peaking near $3.40 in February, XRP has formed a symmetrical triangle pattern. This pattern, characterized by converging trendlines, often suggests a continuation of the preceding trend – in this case, bullish. A breakout above the triangle’s upper trendline and the 50-day EMA (currently near $2.20) could propel XRP towards a target of approximately $3.81, representing a 75% increase from current levels.
XRP/USD daily price chart. Source: TradingView
Whale Accumulation Fuels Breakout Thesis
Technical indicators are reinforced by evidence of significant accumulation by large holders. XRP's 90-day moving average whale flows turned positive in early May, signaling a shift from distribution (January-April) to accumulation, according to CryptoQuant.
XRP whale flow 30-day MA. Source: CryptoQuant
This accumulation mirrors the activity preceding XRP's 420% rally in Q4 2024, suggesting renewed confidence among whales. If this on-chain pattern holds, XRP could reach new highs by late 2025.
Key Resistance: $2.34 - $2.40
Binance's XRP/USDT liquidation heatmap reveals a critical resistance zone between $2.34 and $2.40, with over $525 million in potential liquidations. Breaking above this resistance could trigger a short squeeze, pushing the price towards $2.40 and potentially beyond.
XRP/USDT liquidation heatmap (3-month). Source: CryptoQuant
Disclaimer: This article does not provide investment advice. All investment decisions involve risk, and thorough research is recommended.