XRP, Beyond the $1.4 Box Range, Aiming for $2.2... "The Time Has Finally Come"

▲ XRP

XRP has formed a strong box range near $1.4 and entered an energy condensation phase, with market tension extremely high ahead of a major price breakout.

According to a NewsBTC report on April 24 (local time), XRP has been trading sideways around the $1.4 mark for the past few days. Technical indicators such as the Relative Strength Index (RSI) are preparing for an ascent from the neutral zone, hinting at an influx of buying pressure. The Moving Average Convergence Divergence (MACD) is also nearing a bullish crossover, suggesting that price volatility is likely to explode soon. Experts evaluate the current stagnation phase as the final consolidation process before a major uptrend.

On-chain data analysis firm Santiment reported that whale investors holding over 1 million XRP have increased their accumulation intensity in the recent $1.4 range. Whales have consistently secured their holdings amidst market uncertainty, firmly establishing a price support level. The accompanying rise in open interest in the futures market indicates a strengthening of actual buying foundations, not just speculative demand. The accumulation by whales is interpreted as a precursor to a massive price surge.

XRP's price is currently in a tight tug-of-war between the $1.3 support level and the $1.5 resistance level. Analysis suggests that if it breaks above $1.5 on a daily closing basis, the next target price could be as high as $2.2. As long as the downside support of $1.3 is not breached, the bullish rally scenario remains valid. The market has secured strong upward momentum, coupled with expectations for the approval of a spot Ripple ETF.

Even amidst a decrease in overall trading volume in the virtual asset market, XRP is uniquely recording high trading value, capturing investors' attention. With the accelerated influx of institutional investors, the prevailing forecast is that breaking through the $1.4 box range is only a matter of time. Supported by its technical completeness and strong backing from whales, XRP's future movements are expected to be a catalyst leading the rebound of the entire virtual asset market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*