The XRP price has been watching horizontal for a while due to the stagnation in the crypto market. However, an experienced market analyst thinks that XRP can enter a strong rise trend. If the popular Altcoin completes the “cup and handle” formation, the price is expected to rise up to $ 3.35.
Giant Formation of XRP Price: Is the rise at the door?
Crypto analyst Ali Martinez, XRP’nin closely examined the price movements, he said. Analyst announced that the XRP creates a “cup and handle” formation in the 30 -minute graph. This formation is usually considered as a strong rise signal.
In the graph, the XRP’s upper resistance point is $ 2,6752. The sub -support point is at $ 2.26. The depth of this formation is calculated as approximately 15 %. Martinez, based on these calculations, the price of XRP may rise up to $ 3.35. If this formation is completed, XRP may expect a large price explosion.
Ripple ETF and ecosystem expansion provides support for price
One of the main factors that can move the XRP price up is the gradual strengthening of the possibility of Ripple ETF. According to JPMorgan’s estimates, if a Spot Ripple ETF is approved, a fund entry of $ 8 billion may occur in the first year. This can allow the XRP price to gain more momentum.
In addition, the Ripple Ledger ecosystem continues to expand. While the number of projects that can compete with Solana and BNB Chain increases, big players such as XRP Army and Coreum operate on this network. Especially if the use of Rlusd stabilcoin continues to increase, the Ripple price may receive more demand. The XRP, whose daily transaction volume exceeds $ 150 million, continues to have a strong liquidity.
XRP Technical Analysis: $ 3.3915 resistance should be overcome
XRP’s daily graph shows that the price has been stuck between certain support and levels for a while. While the $ 1,7292 support level is preserved, the $ 3,3915 resistance is a critical barrier.
Technical indicators indicate that if the XRP exceeds this resistance, it can initiate a new wave of ascension. If this break occurs, analysts think the price can rise up to $ 5. However, if it hangs below $ 1,7292, the current rise scenario may be invalid and the price of Ripple may decrease more.
Conclusion: Critical Days for XRP are approaching
For XRP investors, the coming days can be quite critical. If Ripple completes the “cup and handle” formation, as Martinez envisages, a large rally may start if it moves towards $ 3.35.
However, investors need to carefully monitor the resistance levels and take into account possible withdrawal.
