Crypto enthusiasts are buzzing around the recent developments in the world of XRP, particularly following insights from expert analyst, Armando LaVerdad. Over the weekend, he highlighted a compelling structure in the XRP price chart that suggests rising optimism among investors. This surge in confidence among bulls indicates that XRP might be gearing up for a significant upward movement.
XRP Market Signals Indicate a Surge Ahead
In a detailed tweet, LaVerdad identified a pivotal liquidity overhang capable of driving XRP’s price upwards. Currently, there are billions in liquidations situated between $3.8 and $4, creating a strong potential for price spikes as these levels may attract significant whale activity.
Moreover, the appearance of a Bullish Flag pattern on the daily chart reinforces this bullish sentiment. This straightforward formation often precedes a price increase, and as XRP neared the conclusion of this pattern, the tightening consolidation phase signaled that the asset was testing resistance at the upper trendline.
The asset’s momentum indicators have also recently turned positive. With the MACD shifting upward and both the RSI and Stochastic RSI moving out of oversold territory, there is a clear indication that underlying strength could propel XRP higher in the near term.
Bullish Breakout from Trendline Fuels Optimism
In a subsequent update, LaVerdad noted a crucial breakout for XRP, as it surged past a long-standing descending trendline—a critical barrier that may have held the price down previously. This breakout, combined with significant trading volume, suggests bullish prospects for XRP moving forward.
Currently, strong support levels exist between $2.8 and $2.95, indicating an essential threshold the bears must contest against. If bulls maintain this footing, the analyst forecasts the XRP price could reach a target of $3.20 to $3.25, representing a potential increase of over 10%.
Following this target, LaVerdad highlights the ambitious goal of reaching $3.50 in the coming weeks, contingent upon how momentum builds within the market. He emphasizes, “As long as XRP holds above $2.80, the bullish control remains intact!”
