3 Key Insight
- XRP holds above $3.00 in bullish flag; breakout may target $3.37, $4.00, even $5.00.
- Whales added 120M XRP during the price dip, pushing total holdings to 6.72 billion coins.
- RSI at 56 supports the bullish trend; key support at $2.80 remains crucial for continuation.
Ripple’s native token XRP is currently showing signs of a bullish continuation following a breakout from a long-term symmetrical triangle. The daily chart indicates that XRP is consolidating just above the broken flag structure, a pattern often associated with the resumption of an upward trend. As of press time, XRP was trading at $3.09, with a 24-hour volume of approximately $7.78 billion.
Bullish Flag Pattern Forms Above $3.00
After breaking out of the symmetrical triangle in July, XRP surged past the $3.00 mark, supported by a volume increase. Price action since then has formed a downward-sloping flag—a short-term consolidation that typically forms after a sharp upward move. Analysts suggest this pattern may act as a continuation setup, especially if XRP holds above the key support level of $2.80.
The 50-day simple moving average has moved up to $2.89, providing a technical base for price stability. Volume has slightly increased during the current flag formation, supporting the breakout argument. The Relative Strength Index (RSI) is around 56, showing moderate bullish strength without entering overbought territory.
Analyst Jonathan Carter wrote that the “#XRP Bullish Flag is Ready to Unfold,” adding that a move toward $3.37, $4.00, and potentially $5.00 is possible if price confirms upward continuation.
Whale Accumulation Surges on Price Dips
According to on-chain data shared by analyst Ali, large XRP wallets holding between 1 million and 10 million tokens have increased their holdings by approximately 120 million XRP since August 7. This accumulation occurred during a period of price volatility, suggesting large holders are positioning during pullbacks.
The chart shows that whale balances rose to around 6.72 billion XRP by August 14. While price experienced short-term declines, the steady rise in whale holdings reflects a possible strategic response to market dips. Hinting at rising interest from long-term holders, Ali noted,
“120 million $XRP bought up by whales on the dip.”
Key Levels and Momentum Indicators
The RSI’s position near 56 keeps momentum tilted toward the bullish side. If XRP continues to hold above the $2.80–$3.00 range, the next resistance zones are expected at $3.37 and $4.00. A confirmed breakout above $3.37 could bring $5.00 into focus.
On the downside, a loss of support at $2.80 could change the short-term structure. Until then, technical indicators, chart structure, and accumulation data suggest XRP is being closely monitored for further upside.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
