But as of this writing, the trend has changed as the altcoin has risen above the channel’s upper trendline.
This uptrend indicates that bulls have overpowered bears, and XRP’s price is unlikely to drop below the key $2 support.
A closer look at the chart shows that the Moving Average Convergence Divergence (MACD) supports this.
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Meanwhile, XRP’s recent decline has dragged its Market Value to Realized Value (MVRV) ratio down to 73.42%, a fall from its peak above 150%.
The MVRV ratio measures the average profit or loss of holders by comparing market value to the average cost basis. A high reading—like the 150% peak—means most investors are sitting on significant unrealized gains.
At the current 73.42% level, many holders are still in profit, but their margins are far slimmer. This drop suggests that selling pressure may ease compared to the peak, as fewer traders are sitting on oversized gains.
Historically, the trend implies that the altcoin is moving to an accumulation zone, which could drive XRP’s price to rebound.
XRP Price Ready for Takeoff
The daily chart provides valuable insight into its potential targets. XRP’s price has formed a bullish pennant, a continuation pattern that signals the next leg higher after consolidation.
The Money Flow Index (MFI) is trending upward, supporting this setup and indicating stronger inflows and growing demand.
Together, these suggest that XRP may be ready for a breakout above the pennant’s resistance line at $3.23.
If this pattern holds, the next level for XRP to reach could be 3.67. If the market condition gets bullish as the year advances, the cryptocurrency could reach $4.95.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
