XRP Inches Closer to Its Glory Zone — Only 2% Stands in the Way
XRP is showing bullish signs, sitting just 2% away from a key resistance level that could trigger a significant price move.Summary
XRP has shown little price movement recently, but on-chain data and technical charts suggest a potential bullish breakout is imminent. A dense cost basis heatmap shows significant accumulation between $2.52 and $2.54, acting as an immediate barrier. However, increasing exchange outflows, signaling accumulation rather than selling, suggest traders anticipate strength. Technically, XRP is forming a falling wedge pattern on the 12-hour chart, testing the $2.50 Fibonacci level. A daily close above $2.57 (about 2% higher) would confirm clearing this initial supply zone, potentially leading to the next resistance at $2.69, and eventually $2.81. Invalidation of this bullish setup would occur if the price drops below the $2.38 Fibonacci level.
(Source：BeInCrypto)