- Hidden bullish divergence suggests XRP could continue its upward trend soon.
- XRP’s breakout from symmetrical triangle could target $15 if momentum holds.
- Surge in derivatives volume signals strong market participation in XRP trades.
XRP is displaying strong bullish momentum, with analysts highlighting key technical patterns that suggest a potential breakout. The cryptocurrency has recently formed a hidden bullish divergence, signaling a possible upward continuation.
Additionally, market experts believe that if XRP sustains its current breakout, it could reach as high as $15. The ongoing SEC developments add another layer of uncertainty, but traders remain optimistic about XRP’s future price movement.
Hidden Bullish Divergence Signals Uptrend
Crypto analyst Javon Marks identified a hidden bullish divergence on the daily XRP/USD chart. This occurs when price forms higher lows while the Relative Strength Index (RSI) registers lower lows, often indicating a continuation of the prevailing trend.
The recent price movement shows XRP breaking out from consolidation, followed by a correction that still maintains higher lows. This pattern suggests that the current retracement phase could end with a bullish breakout, potentially driving prices higher.
Currently, XRP is trading at $2.43 with a 24-hour volume of $4.88 billion. This represents a 0.28% increase in the last day but a 0.60% decline over the past week. The cryptocurrency’s market cap stands at approximately $140.19 billion, with a circulating supply of 58 billion XRP.
Symmetrical Triangle Breakout Points to $15 Target
Ali Martinez, another prominent analyst, noted that XRP has broken out of a long-term symmetrical triangle pattern on the weekly chart. This pattern has been forming since 2018, with XRP surpassing the $2.75 level, confirming a bullish continuation.
If the breakout holds, Martinez projects XRP could reach $15 as a key resistance level. Fibonacci extension levels indicate that the 1.618 extension aligns near $16.73, further supporting the possibility of a strong rally.
If this is a symmetrical triangle, $XRP has broken out and is targeting $15! pic.twitter.com/ppJTuRbbp7
— Ali (@ali_charts) February 13, 2025
Historically, symmetrical triangle breakouts have led to substantial price increases, making this a significant development for XRP traders. The market’s reaction to this breakout will be crucial in determining whether XRP can sustain its momentum and reach these ambitious targets.
Derivatives Market Shows Increased Activity
According to Coinglass data, the XRP derivatives market is witnessing heightened trading activity. Trading volume has surged by 25.47% to $6.63 billion, indicating strong participation from traders. Open interest has increased slightly by 0.39% to $3.55 billion, reflecting stable commitments from market participants.
Additionally, options volume has risen significantly by 119.33% to $1.19K, highlighting growing speculative interest. However, options open interest has dropped by 8.64% to $786.69K, suggesting potential profit-taking or reduced long-term positions.
SEC Meeting and Regulatory Developments
The U.S. Securities and Exchange Commission (SEC) is scheduled to hold a closed meeting on Thursday, February 13. This meeting comes amid rising scrutiny from the crypto industry, with several high-profile issues likely to be discussed.
Key topics may include the SEC’s appeal of the Ripple case’s Programmatic Sales ruling, the Grayscale XRP-spot ETF filing, and a lawsuit filed by the whistleblower group Empower Oversight.
