XRP Smart Money Are Bullish Once Again, Will the Price Echo January’s 30% Rally?
XRP shows bullish signals from Smart Money and whale accumulation, contrasting with short-term bearish technical patterns like a head and shoulders formation.Summary
XRP price recently gained nearly 7%, outperforming most top 10 cryptos, but technical indicators present a conflict between short-term bearish risks and medium-term bullish conviction. On the 4-hour chart, a head and shoulders pattern near $1.44 suggests a potential 16% crash risk if support fails, further indicated by the Chaikin Money Flow (CMF) showing institutional distribution diverging from price action.
However, medium-term indicators suggest accumulation: XRP experienced massive exchange outflows on February 17, coinciding with smaller whale addresses accumulating 20 million XRP. Crucially, the daily Smart Money Index (SMI) crossed its signal line on February 15, a signal that preceded XRP's 30% rally in January.
This conflict hinges on the critical support level around $1.42/$1.44. If this support holds, the bullish SMI signal and whale activity suggest a potential 30% rally toward $1.91. If $1.42 breaks, the bearish head and shoulders pattern activates, targeting $1.12.
(Source：BeInCrypto)