news 
XRP’s Bullish Setup – Examining Odds of Altcoin Hitting Its Mid-Term Target
Ripple’s XRP may be nearing a critical breakout as speculation rises, but weak network activity could limit potential upside.
As the cryptocurrency market remains in a state of heightened excitement, XRP has been trading within a large symmetrical triangle pattern since late 2024. This structure has taken shape and is coiling tightly towards its apex. Currently, the price is trading at $2.19, just above the crucial support level of $2.08, with major resistances situated at $2.35 and $2.61.
It is imperative to acknowledge that XRP’s long-term triangle pattern and rising taker buy volume suggest a significant breakout could be imminent. However, the present weak network activity poses serious challenges to the sustainability of any upward movement driven solely by speculation rather than user demand.
In recent times, the 90-day Spot Taker CVD has consistently revealed dominant taker buy dominance, indicating that market participants have been actively accumulating XRP in anticipation of a significant price surge. This might result in a decisive move towards the altcoin’s mid-term target if buyers can successfully flip the $2.35-$2.61 zone.
On the other hand, if on-chain weaknesses are not addressed promptly, any breakout may prove short-lived and fail to bring about lasting results. Therefore, it is essential to examine the odds of XRP hitting its mid-term goal in the coming weeks.
The recent surge in Spot Taker CVD, despite a stagnant price movement, reveals that market participants have been aggressively buying XRP, anticipating an upward move. This could result in a significant upward shift if XRP can convincingly break above the $2.35-$2.61 zone with strong volume and on-chain metrics begin to recover.
However, it is crucial to emphasize the importance of addressing on-chain weaknesses as any failure to do so could lead to short-lived price movements and undermine any potential rally driven solely by speculation rather than user demand.
Source: TradingView
Source: ambcrypto.com
