Ripple’s bullish pennant breakout: Can XRP repeat its 470% rally?

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  • XRP’s Super Trend Indicator flipped bullish, historically linked to massive price surges.
  • Key metrics and exchange activity signaled a growing bullish momentum.

On Ripple‘s [XRP] 12-hour graph, the Super Trend Indicator has switched to a bullish stance, according to Ali, a well-known market analyst who now posts on platform X (previously known as Twitter).

As a researcher, I find this intriguing as the last instance of such alignment was accompanied by a staggering 470% increase in XRP’s value. The tool we use to spot market patterns, which is crucial for understanding prevailing trends among altcoins like XRP, seems to be echoing a bullish narrative at present.

This signal occurs as XRP’s price has just rebounded from the resistance level of a bullish pennant, a chart formation typically linked to further price increases.

Altcoin exchange net flow and activity surges

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Information from Coinglass adds more confidence to the optimistic view on XRP. In the last two months, there’s been a significant rise in net flow of XRP into exchanges, approaching some of the year’s peak levels. This pattern indicates increased investor activity, potentially hinting at readiness for major market shifts.

The activity surrounding XRP follows this pattern, drawing considerable interest. Previously, similar increases in net flow have been associated with higher trading volumes, which could ignite price movement shortly.

XRP liquidation pool in focus

According to Coinglass, there’s a substantial XRP liquidation pool worth approximately 2.87 million dollars at the price point of $2.47. This price might exert a strong pull on XRP values, potentially drawing them nearer to this level. Large liquidation pools frequently catch the attention of market activity because they denote locations where leveraged positions could be activated.

Blending this information with the reversal signal from the Bullish Super Trend creates an optimistic outlook. Yet, it’s crucial to exercise caution since market conditions may change rapidly.

Could XRP rally again?

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Based on the alignment of various technical signals, on-exchange statistics, and optimistic market trends, it appears that XRP could potentially prepare for an uptrend. Overcoming crucial obstacles in the price chart may open paths for continuous growth during the predicted altcoin surge period.

Read Ripple [XRP] Price Prediction 2025-2026

Currently, the altcoin has managed to break out of its bullish pennant consolidation phase.

In simpler terms, if the current resistance (a point where prices have been unable to rise) in our bullish trend (continuous series of upward price movements), which has become a new support (a point where prices are expected to hold steady or rise), remains strong, then we might expect a rally to reach even higher highs.

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2025-01-08 02:15