Key Insights:
- XRP price shows a bullish breakout, targeting $9.63.
- Wallet adoption and growing market confidence fuel the surge.
- A 251% potential price increase signals a promising future for XRP.
XRP price is showing strong bullish momentum, with analysts predicting a potential surge of 251%, pushing the price toward $9.63. Technical indicators, increasing wallet adoption, and rising market participation all point to an optimistic outlook for XRP in the coming months. The cryptocurrency is breaking key resistance levels and forming bullish chart patterns, suggesting that it could reach new highs.
XRP Price Forms Ascending Triangle and Breaks Key Resistance
The XRP chart displays an ascending triangle pattern, which is often seen as a bullish indicator. This pattern signals price consolidation is occurring, creating a narrowing range and increasing the likelihood of a breakout. As the price recently broke out above key resistance, analyst JavonTM1 believes that XRP could see significant upward movement, with a potential target of $9.63 or even higher.
The breakout from the ascending triangle comes after a series of consistent higher lows, indicating strong market confidence. With the price breaking above critical resistance levels, the next key target for XRP is $9.63, representing a 251% surge from its current price. If XRP can maintain its bullish momentum, the cryptocurrency may set new all-time highs, further reinforcing its bullish outlook.
Wallet Growth and Increased Adoption Support Bullish Trend
XRP is also experiencing an upsurge in the popularity of wallets, whereby wallets have increased by 840,000 within six months. The number of XRP wallets is 7.12 million, indicating massive network expansion. This large number of wallet addresses portrays cryptocurrency’s rising demand and adoption.
The more users are engaged in the network, the more confidence is placed in XRP’s long-term prospects. Increased trading volumes occur with more wallet activity, which normally causes a positive price trend.
Double Bottom Breakout confirms bullish movement
Due to this, Steph_iscrypto, as a market analyst, notes that the XRP chart is exhibiting a popular bullish reversal pattern named the double bottom breakout. This trend happens when a price creates two lows, which are close to each other, then the price breaks out beyond the resistance level of the neckline. XRP recently broke through the $2.59 level, confirming the pattern and signaling potential future price growth.
The potential to rise to greater heights is signaled by the double bottom pattern’s breakout and the price’s increasing momentum. Since XRP remains above the breakout level, it can potentially break above and start increasing to $3.50 and even higher soon.
Increasing Open Interest Reflects Rising Confidence in XRP
The open interest data shows that there is increasing market participation in XRP. The total open interest is at a level of $2.6 billion and perpetual contracts gained +11.99% over the past 24 hours, signaling market confidence towards the price movement.
XRP is currently experiencing a heavy bullish trend as it recently broke out of a Falling Wedge pattern at 2.64, rising +3.72%. The RSI stands at 75.93, indicating an overbought move, but the MACD indicator shows upward movement; hence, a move towards 3.00 and above is imminent.
Despite the bullish movement, the price of XRP is expected to drop by -0.63%, to reach 2.57 by August 2025. The market mood is still positive, with a Fear & Greed Index of 71 (Greed). The 30-day sentiment results in 16 green days with a 3.87 percent volatility of the XRP.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
The post XRP Price Eyes $9.63 With 251% Surge Potential Ahead appeared first on The Market Periodical.
