XRP WTF IS GOING ON? [Price Exploding]

Lark Davis

XRP Price Explosion

The price of XRP has been exploding recently, with a beautiful breakout on the charts.

  • XRP formed a triangle pattern after a big run, which is a continuation pattern in a bull market scenario.
  • The asset showed incredible strength, never falling below the 50-day exponential moving average.

Technical Indicators

  • A MacD bull cross occurred on January 11th, indicating a potential run.
  • The last time this happened, XRP ran from $0.50 to almost $3.

Price Targets

  • The shorter-term price target is the previous all-time high of $3.30.
  • The implied breakout target for the triangle pattern is $3.90.

Reasons for Excitement

  • The likelihood of an XRP ETF, with J.P. Morgan predicting up to $6 billion flowing into it.
  • Speculation about Ripple closing a deal and Donald Trump meeting with the CEO of Ripple Labs.
  • Potential for XRP to become tax-free, making it more attractive to traders.

XRP Functionality

  • The RLUSD stable coin could be the killer app for the XRP network, with potential for serious XRP burn and extensive use across banking partners.