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XRP Surges 13% as Market Rally Gains Momentum, Bullish Indicators Emerge
XRP Surge and Technical Analysis
- XRP experienced a 13% increase, reaching $2.4, driven by strong market sentiment.
- The price has broken out of a falling wedge pattern, indicating potential for further gains toward $2.70.
- XRP reclaimed key moving averages (20-day, 50-day, and 200-day EMAs), supporting a bullish outlook.
- Daily trading volume surged by 114% to $7.33 billion; futures open interest increased by 23% to $4.71 billion.
XRP vs. BTC Performance
- XRP could outperform Bitcoin if it breaks above resistance in the XRP/BTC trading pair.
- Technical formations suggest a possible 30% upside if a breakout occurs.
- XRP is nearing a significant technical milestone on its chart, potentially signaling long-term bullish momentum.
XRP ETFs and Institutional Demand
- US-listed spot XRP ETFs attracted $46 million net inflows on Jan. 5, with total inflows exceeding $1.23 billion in December.
- Total assets under management for XRP ETFs are approximately $1.65 billion, indicating sustained institutional interest.