- XRP bull flag pattern suggests a potential price target of $14, analysts forecast growth.
- Increased outflows highlight profit-taking, while inflows earlier drove XRP’s bullish rally.
- RSI and MACD confirm bullish momentum, with potential consolidation in the short term.
XRP continues to capture investor attention with its strong bullish momentum despite recent market fluctuations. According to STEPH IS CRYPTO, the bull flag pattern remains active, pointing towards a technical price target of $14. While the current price of XRP sits at $3.10, the asset has faced a 5.12% drop over the past 24 hours.
MikybullCrypto, another renowned analyst, asserts that XRP maintains one of the strongest bullish charts in the cryptocurrency market. The next key price level to target appears to be $4, indicating potential near-term growth.
$XRP still remains one of the strongest bullish charts out there
— Mikybull 🐂Crypto (@MikybullCrypto) January 20, 2025
The next level to target from now is $4. https://t.co/Nfq8UBnQhI pic.twitter.com/bV0lFXvtnK
Recent Market Activity and Price Trends
XRP’s recent market activity reveals significant shifts in investor behavior. Late December marked a surge in outflows from exchanges, reflected in red bars on the chart. These outflows corresponded with the price climbing above $3, highlighting potential profit-taking among investors.
Earlier in December, green bars represented an increase in inflows as the price rallied, demonstrating heightened optimism and active trading in the market.
However, intensified outflows near January 21, exceeding $200 million, underscored strong selling pressure during a retracement phase. This selling behavior coincided with XRP’s price corrections, suggesting traders moved their holdings off exchanges to lock in gains.
Key Technical Indicators Signal Bullish Momentum
The RSI (Relative Strength Index) for XRP is currently at 64.50, indicating ongoing bullish momentum but nearing overbought territory. This suggests potential consolidation or minor corrections in the short term. A consolidation phase could provide a healthier foundation for the next upward move.
Additionally, the MACD (Moving Average Convergence Divergence) confirms bullish momentum, with the MACD line (0.24251) positioned above the signal line (0.19932). The positive histogram bars further validate sustained upward momentum. However, the histogram is beginning to flatten, signaling a possible slowdown in bullish strength.