- At the time of writing, XRP was approaching critical resistance at $2.60 as bullish momentum increased among traders
- Whale activity and rising network engagement strengthen XRP’s case for a breakout rally
XRP is making headlines again, with the price moving closer to a possible breakout from the descending channel, leading to optimism. At the time of writing, the altcoin was trading at $2,378, having risen 1.56% in the past 24 hours.
The move comes after weeks of consolidation, raising optimism among traders about a continued uptrend. However, XRP needs to overcome critical resistance levels near USD 2.60 to confirm its bullish outlook.
Is XRP Ready to Reclaim Higher Levels?
The altcoin’s price action suggested that XRP could test the limits of its descending channel. In fact, recent gains have indicated growing bullish sentiment, but resistance at $2.60 remains a crucial hurdle. If XRP breaks above this level, momentum could push the price towards higher targets.
However, failure to sustain this rally could lead to a retest of lower support levels, dampening traders’ enthusiasm.
Source: TradingView
The taker buy-sell ratio underlines buyer confidence
The taker buy-sell ratio is up 1% over the past 24 hours, underscoring a slight dominance of buyers in perpetual swaps. This metric is usually a sign of increased confidence among traders betting on XRP’s upside potential.
Furthermore, this increase in buying activity could encourage further buying pressure, pushing XRP out of its consolidation phase. Nevertheless, continued buyer dominance is crucial to avoid a return to the charts.
Source: CryptoQuant
Active addresses and transaction growth indicate market engagement
The number of active addresses has risen to 34,187, an increase of 0.83% in the past 24 hours. Moreover, the number of transactions rose to 1.732 million – an increase of 0.87% in the same period.
These figures together showed steady growth in network activity, which often precedes price increases. Furthermore, the surge in activity signals increased interest among investors, further supporting the crypto’s bullish narrative.
Source: CryptoQuant
Whale activity adds to the bullish outlook
Major investors are also showing renewed interest as whale-to-stock trades grew 0.84% in 24 hours. This reading indicated that whales position themselves for potential profits, often a precursor to significant price movements.
Consequently, their activity strengthens the case for a bullish breakout. However, continued whale involvement remains necessary to maintain the upward momentum in the coming days.
CryptoQuant
Read Ripple [XRP] Price forecast 2025-2026
Is XRP Poised for a Bullish Breakout?
XRP is showing strong signs of a potential breakout, supported by rising buyer confidence, surging network activity and whale positioning. If the token clears the USD 2.60 resistance, it could spark a significant rally.
However, XRP must maintain its current momentum to avoid falling back into consolidation. Therefore, all indicators point to the price moving towards a bullish move, making this a crucial time for traders.
