Analyst Predicts $4.40 XRP Surge with Triangle Breakout

The bullish future of XRP is supported by technical indicators like RSI and MACD. The RSI has a value of 62.41, which indicates a bullish trend. Furthermore, the MACD line is trading above the signal line, and the rising green histogram chart indicates a bullish momentum for XRP.

Increased XRP Market Activity

Coinglass‘s market data also echoes XRP’s bullish sentiments. Open interest (OI) is up 18.04% to $5.46 billion. Furthermore, trading volume has jumped by 63.51% and in total made up $12.24 billion. Such increases reflect increased activity as well as interest in XRP, which will multiply the price movement once the breakout occurs.

Over the last 24 hours, long positions were liquidated for $7.11 million, while $9.52 million were liquidated in short positions. A total of $16.63 million positions were eliminated, depicting the volatility of the market. Traders seeking a price surge from more than $3.00 should tread cautiously because market instability may result in unpredictable fluctuations.

Investors and traders pay keen attention as XRP nears the critical point of breakout. The pattern, if maintained, could mean that XRP increases sharply to test the $4.40 target. Technical indicators, including the triangle pattern, RSI, and MACD, significantly enhance the likelihood of a breakout occurring soon, suggesting a strong price movement ahead.