XRP continues to draw attention with its strong price action, forming three consecutive bullish pennant patterns on the 4-hour chart. These formations signal potential upward momentum as analysts and whales prepare for a significant rally.
- Bullish Pennant Patterns: XRP has formed three consecutive bullish pennant patterns, signaling trend continuation and strong upward potential.
- Support at $2.25: Analyst Ali Martinez highlights $2.25 as a key support level, with XRP rebounding to $2.37 after briefly dipping to $1.90.
- Price Target of $4.40: Martinez projects a potential bullish breakout toward $4.40, offering an 88% upside from current levels.
- Veteran Analyst Endorsement: Peter Brandt, a seasoned trader, called XRP’s weekly chart the most promising in crypto, indicating a powerful breakout potential.
- Whale Accumulation: Santiment data reveals that whales added 100 million XRP (worth $200 million) during the recent dip, signaling confidence in a price rally.
- Long-Term Outlook: While near-term targets include $4 and $4.40, some analysts like Martinez suggest higher projections, with conservative estimates reaching $8 and bold targets as high as $48.
With bullish chart patterns, strong support levels, and whale accumulation, XRP’s outlook appears promising. Analysts remain optimistic about a significant breakout, targeting $4.40 in the short term, with potential for even higher gains in the ongoing bull market.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
