XRP Poised for Rapid Movement Amid Compression and ETF Hopes
XRP is gearing up for a potentially rapid price move, as indicated by social posts and on-chain data. Trader Altcoin Gordon warns that this shift could happen quickly, urging traders to be prepared.
- XRP has been stagnant below $3 for weeks without clear upward momentum.
- Price compression since July suggests stored volatility, leading to potential abrupt movements.
- Previous compressions have resulted in significant price increases, such as the jump from $0.50 to above $3.40 in late 2024.
- Some analysts suggest possible price targets ranging from $8 to $33, though these are extreme scenarios.
On-chain data shows large wallets accumulating over $300 million in XRP recently, bringing holdings back to levels seen during past rallies.
- Potential XRP-based ETFs are in focus, with a US decision expected soon. Approval could drive inflows.
- Regulatory delays or rejections might negatively impact sentiment, but strong performance in Bitcoin and Ethereum supports interest in XRP.
- Investor interest is evident as XRP climbed to $2.94, a 3.30% increase, with the $3 mark being a psychological target.
The market anticipates increased volatility, and investors will need precise timing and discipline for future moves.