XRP News Today: XRP Climbs 1.66% to $3.19, Analyst Forecasts $5 Surge on Technical Indicators

Ripple’s XRP has drawn renewed attention as a prominent market analyst predicts a potential surge to $5, driven by bullish technical indicators. The altcoin, currently trading at $3.19 with a 1.66% hourly gain, has yet to surpass its all-time high of $3.84. The analyst’s forecast hinges on patterns observed in XRP’s dominance metrics and volume profiles, suggesting a “Kaboom phase” could catalyze a dramatic price shift [1].

The analyst highlights a bullish pennant breakout on Bitcoin’s chart as a key indicator, projecting a potential 21% to 275% surge. This pattern, characterized by a price break above the pennant’s upper trendline, signals an extension of an existing uptrend [1]. Additionally, the Visible Range Volume Profile (VRVP) reveals a critical void above 5.75%, which aligns with Fibonacci levels (0.5 and 0.618 at 8.59%). The analyst argues that a closure above 5.75% could trigger a significant rally, termed the “Kaboom phase,” for XRP dominance [1].

Technical analysis often relies on volume distribution to gauge market sentiment, and the VRVP’s current configuration suggests strong buyer interest at higher price levels. The analyst emphasizes that such voids in volume data often precede sharp price movements, as traders react to unmet demand at those levels [1]. While these indicators are promising, they remain speculative and contingent on broader market conditions.

At the time of the report, XRP’s active buying pressure and recent performance align with a bullish narrative, though caution is warranted given the volatile nature of cryptocurrency markets. The analyst’s projections underscore the importance of monitoring XRP’s dominance metrics, which could serve as an early warning system for institutional or retail investor inflows [1].

The market’s ability to execute the predicted $5 target will depend on sustained volume and a breakout above key resistance levels. If the VRVP void is filled through a sustained rally, it could validate the analyst’s thesis and attract further speculative and strategic capital. However, bearish scenarios, such as a retest of current support levels or a broader market downturn, remain plausible risks.

Source: [1] [Ripple’s XRP $5 ‘Kaboom Phase’ Predicted as Technical Indicators Signal Surprising Wave] [https://zycrypto.com/ripples-xrp-5-kaboom-phase-predicted-as-technical-indicators-signal-surprising-wave/]