- XRP dominance and monthly volatility indicate price will rise
- XRP’s monthly MACD indicator turns bullish as whale accumulation intensifies
XRP’s price movement is worth keeping an eye on, especially since recent SEC actions suggest we may see some big moves on the charts in the near future.
Consider this: The Bollinger Bands on the monthly chart are tightening at the time of writing. Ripple Currently being integrated.
However, when considering the XRP dominance chart to cut through the noise of XRP/USD, it shows that XRP is clearly outperforming the market and reversing from levels that usually precede a big rally.
Source: TradingView
With monthly volatility at an all-time low and these indicators showing rock bottom, XRP could soon see a rise. If this is the case, it could become one of the most promising altcoins on the market in the short term.
Additionally, XRP’s weekly timeframe has outperformed the market for 10 consecutive weeks, indicating a high probability of an upward breakout on the XRP/USD chart.
Source: TradingView
Despite the current stagnation in XRP/USD, the XRP market cap is showing undeniable strength and durability. Consistent outperformance, supported by strong market indicators, suggests that XRP may be well positioned for future gains.
MACD indicator analysis flashing green
XRP is in a 3-wave structure on the monthly timeframe at the time of writing, with the dark defenders targeting $1.88, $5.85, $18.22, and $36.76 by the 5th wave. Citation About X.
If XRP breaks out of $0.66, a sharp rally to $1.03 is expected, which will serve as the mid-level objective. Sustaining above $1.03 will signify an extremely bullish zone above the Ichimoku cloud.
Also, the MACD monthly indicator also turned bullish and the formation of a Dragonfly Doji suggested increasing buying pressure.
Source: Dark Defender, TradingView
Considering the impact of these technical indicators and recent SEC moves, XRP may be poised to achieve these expected targets.
Falling Funding Rates Attract Whales
It’s also worth noting that whale activity has recently spiked after a large XRP holder added 7 million XRP (worth $4.1 million) to UPBIT in 24 hours, bringing his total holdings to 5.553 million XRP (worth $3.25 million).
Source: ChainStats
These large whale holdings are a sign of a potential bull market for XRP, suggesting that the price could rise in the coming months, especially as larger investors continue to increase their XRP holdings.
Lastly, the cryptocurrency’s funding rate has turned negative, presenting a great buying opportunity. Any further positive signs could increase XRP’s dominance and drive its price higher, making it a strong investment in the coming months.
Source: Kyledoops on X
