- At press time, XRP was nearing the critical resistance at $2.60 with bullish momentum among traders.
- Whale Activity and Growing Network Engagement Strengthen XRP’s Case for a Breakout Rally
XRP is making headlines again, with its price approaching a potential breakout of its descending channel, sparking optimism. At the time of writing, the altcoin was trading at $2.378, following a 1.56% rise over the past 24 hours.
The move comes after weeks of consolidation, sparking optimism among traders of a sustained uptrend. However, XRP needs to overcome critical resistance levels near $2.60 to confirm its bullish outlook.
Is XRP Ready to Reclaim Higher Levels?
The altcoin’s price action suggests that XRP may be testing the limits of its descending channel. In fact, recent gains indicate growing bullish sentiment, but resistance at $2.60 remains a crucial hurdle. If XRP breaks this level, the 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
Takers’ buy-sell ratio highlights buyer confidence
The taker-to-sell ratio climbed 1% in the past 24 hours, highlighting a slight dominance of buyers in perpetual swaps. This move is generally a sign of greater confidence among traders betting on XRP’s upside potential.
Additionally, this increase in buy-side activity could encourage additional buying pressure, helping XRP move out of its consolidation phase. Nonetheless, sustained buyer dominance is crucial to prevent any retracement on the charts.
Source: CryptoQuant
Active addresses and transaction growth signal market engagement
Active addresses reached 34,187, an increase of 0.83% in the last 24 hours. Additionally, the number of transactions jumped to 1.732 million – an increase of 0.87% during the same period.
Together, these metrics demonstrated steady growth in network activity, which often precedes price spikes. Additionally, the rise in activity suggests increased interest from investors, further supporting the crypto’s bullish narrative.
Source: CryptoQuant
Whale activity adds to bullish outlook
Large investors also showed renewed interest, with whale-exchange transactions increasing by 0.84% in 24 hours. This reading indicates that whales are positioning themselves for potential gains, often precursors to large price movements.
Therefore, their activity strengthens the case for a bullish breakout. However, sustained whale involvement remains necessary to maintain upward momentum in the coming days.
CryptoQuant
Read Ripple (XRP) Price Prediction 2025-2026
Is XRP ready for a bullish breakout?
XRP is showing strong signs of a potential breakout, supported by growing buyer confidence, increasing network activity, and whale positioning. If the token breaks through the $2.60 resistance, it could trigger a significant rally.
However, XRP must maintain its current momentum to avoid falling back into consolidation. Therefore, all indicators suggest that it could be ready for a bullish move, making it a critical time for traders.
