Analyst Predicts XRP Breakout Amid Panic Selling

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 21 hours ago

XRP-0.751%

MMT-1.81%

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Market Structure Analysis: Analyst Evan Clegg highlights that XRP is currently coiling within a classic tightening wedge structure, trading at $1.36 and nearing the apex at $1.33, indicating a balanced market where pressure is building between buyers and sellers.
Momentum Indicators Stabilizing: XRP's Relative Strength Index (RSI) is near 37, a level historically linked to accumulation phases, suggesting that selling pressure may be fading and long-term buyers could be quietly re-entering the market, supporting the potential for future price increases.
Potential Price Targets: Should XRP break upward, Clegg forecasts an initial target of $1.60, with a further extension towards $1.94, indicating that the recent pullback may be part of a larger bullish continuation rather than a trend reversal.
On-Chain Signals Supportive: Recent on-chain data shows whale wallets accumulated over 71 million XRP in the past week, while over 4,300 new addresses were created within 24 hours, suggesting that larger investors may be repositioning ahead of a potential price move.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.164	1.233	1.302	1.371	1.44	1.509	1.577
Fibonacci	1.233	1.286	1.318	1.371	1.423	1.456	1.509

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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