XRP News Today: XRP Shows Signs of Accumulation, Potential Rally Ahead

XRP, the native cryptocurrency of the Ripple network, has been in a state of consolidation for several months, contrasting with the broader market's volatility. Recent price movements suggest a potential shift in the asset's trajectory. XRP has maintained key support levels and exhibited signs of accumulation against both USDT and BTC pairs, indicating a possible accumulation phase.

Technical analysis reveals that the XRP/USDT pair is trading within a descending channel, characterized by a sequence of lower highs and lows. The price recently swept sell-side liquidity below the $2 zone and rebounded strongly, currently testing the 100-day moving average. This liquidity sweep and subsequent bounce may signal the exhaustion of bearish momentum. The Relative Strength Index (RSI) is hovering around 50, indicating a neutral bias. However, reclaiming the 100 and 200-day moving averages around the $2.2–$2.4 range could pave the way for a potential breakout. For a full-fledged bullish trend to commence, a clean break above the upper trendline of the channel and the $3 resistance zone is crucial.

The XRP/BTC pair has been in a clear downtrend within a descending channel since March. The price is approaching the lower boundary of the channel, aligning with a major fair value gap (FVG) around the 1,600–2,000 SAT range. This area is expected to act as a strong demand zone. The confluence of FVG and channel support increases the likelihood of a bullish reaction. Although the RSI remains below 50, it has curved slightly upwards, suggesting a possible slowdown in bearish momentum. A breakout from the channel and reclaiming the 2,300 SAT resistance zone could trigger bullish continuation. However, if the price fails to hold the FVG zone and breaks lower, further downside toward the 1,500 SAT mark is highly probable.

XRP's price has been struggling near $2.02, with resistance at $2.10–$2.16 capping short-term upside. Despite this, the asset has confirmed a bullish breakout after consolidating at higher levels, with the breakout zone now acting as support. The price is showing clear signs of accumulation, and recent movements indicate a potential rally ahead. According to the analyst's forecast, a bullish flag forming in Q1, with price targets as high as $3.50, potentially breaking past XRP's previous record. Institutional interest in XRP is also picking up, with hopes for an ETF approval and expansion into decentralized finance (DeFi) adding to the bullish sentiment. However, it is important to note that these are analysts' forecasts and not guaranteed outcomes.