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.