XRP Price Is Breaking Out on the Charts: Can the Bulls Help it Reach $1.95?
XRP price is showing a potential breakout targeting $1.95, supported by five consecutive days of spot ETF inflows and institutional demand.Summary
The XRP price is currently trading around $1.40, showing a 5.5% gain over 24 hours, and analysts suggest it is positioned for further gains due to strong market and technical factors. A key driver is persistent institutional demand, evidenced by spot XRP ETFs recording five consecutive days of net inflows, totaling nearly $1.25 billion cumulatively and pushing Assets Under Management (AUM) to $1 billion. Technically, XRP is attempting a breakout from a symmetrical triangle pattern on the daily chart. To sustain bullish momentum, the price needs to close above the upper trendline at $1.40, which coincides with the 200-week Exponential Moving Average (EMA). If this breakout is confirmed, the measured target for the pattern suggests a potential rally toward $1.95, representing a 38% increase from the current level.
(Source：Cointelegraph)