XRP Signals Major Move to $15 as Bull Flag Formation Emerges

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In simpler terms, the third-largest digital coin, XRP, is showing signs of significant price increase on its daily chart, forming what’s known as a “bullish flag.” This pattern indicates that if the overall positive market trends continue and XRP manages to hold onto its current $2 price level, which serves as a strong support for the currency, we might see an upward surge in its value soon.

According to numerous analysts posting on platform X (previously known as Twitter), the bullish pattern seen in the XRP token – resembling a flag – suggests a potential price of around $15. This projected price is derived by measuring the height of the ‘flagpole’.

XRP Bull Flag

A rising open interest for XRP serves as a positive signal, with it increasing from $2.61 billion on January 5th to $3.74 billion currently. As compared to the $686 million recorded on October 6th, this increase has been substantial. Typically, significant surges in open interest are followed by strong market rallies. This suggests that the current resistance level of $2.5 may not hold out for much longer.

XRP OI Soars

In a separate article about X, analyst Ali Martinez, known for his expertise in digital assets, pointed out that the SuperTrend indicator has switched to a bullish stance for XRP on the 12-hour graph. As this occurred previously, XRP experienced a significant surge of approximately 470% in value, according to Martinez, suggesting that the cryptocurrency could soar again.

XRP ETF Approval and Price Trajectory

Over the last week, XRP has experienced a significant increase of approximately 16.18%, and an astounding surge of around 327.52% over the past year. Recently, it reached a high not seen in years at $2.86. Despite this, its price remains 36.76% below its all-time high of $3.84, implying that there’s a strong possibility for further price growth.

With a pro-cryptocurrency administration under Donald Trump emerging, there’s growing excitement about a potential market surge on inauguration day, as Bitcoin surpassed the $100,000 mark yet again. Moreover, with Paul Atkins appointed as the head of the Securities and Exchange Commission (SEC), we might see the introduction of altcoin exchange-traded funds (ETFs) such as Solana and XRP ETFs. This would enable investors to invest in the price of these cryptocurrencies indirectly, without needing to directly purchase and hold them.

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2025-01-07 01:39