"Golden Cross imminent"...XRP expected to rally to $1.77 if $1.53 neckline is broken

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XRP (Ripple), which is completing a massive cup-and-handle pattern and preparing for an explosive rally, is currently engaged in a fierce battle with a substantial break-even supply wall of 1.16 billion units positioned around $1.45.

According to the investment media TradingNews on April 27 (local time), XRP continues a sideways trend, seeking a clear direction around $1.4178. A positive point is that the XRP spot ETF has accumulated $1.44 billion in funds since its launch, and institutional investors and whales are strongly supporting the bottom with steady buying, having accumulated 11 million units daily over the past 30 days.

Positive signals are also detected in technical charts. XRP, which has drawn a typical cup-and-handle bullish pattern since late March, is analyzed to potentially surge by 16.64% to $1.77 if it strongly breaks the $1.53 neckline. Furthermore, the 20-day exponential moving average and the 50-day exponential moving average are converging, signaling an imminent golden cross, which is a precursor to a major uptrend, adding strength to the bullish forecast.

However, huge headwinds that could suppress this explosive rally are also lurking. According to on-chain data, a concentrated volume of 1.16 billion units is stacked in the $1.45 to $1.46 range, predicting a fierce sell-off due to break-even sentiment. Moreover, in just 48 hours recently, exchange inflows surged 12-fold from 4.56 million units to 55.29 million units, indicating an increase in pending orders aiming for profit-taking, which is fueling market anxiety.

Additionally, its relative weakness against Bitcoin (BTC) is pointed out as a short-term limitation. Macroscopically, it is too early to expect dramatic fundamental improvements as the congressional passage of the US crypto market structure bill, the Clarity Act, which would break the decisive barrier for institutional capital inflow, is delayed. The media suggested readjusting the target price to between $2.00 and $3.65 as a realistic goal, rather than a blind rosy forecast of breaking $5 by the end of the year.

Consequently, a tactical buying strategy of approaching XRP investment after confirming a break above $1.44 seems effective. The ability to fully absorb the massive supply wall stacked around $1.45 with abundant buying volume will be the only key to entering an upward trajectory towards $1.77.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*