XRP is up nearly 9.2% over the past 24 hours, trading at around $2.27 after spending several weeks in a downward trajectory. This move favors a bullish XRP price prediction as the token has broken key resistances as a result.
Trading volumes stand at $4.5 billion, accounting for roughly 3.3% of XRP’s circulating market capitalization. This implies a 45% increase in the past day.
This strong uptick suggests that bears are getting squeezed out of their short positions. A spike in short liquidations confirms this, as $350 million worth of longs were flushed out in the past 24 hours alone.
One of the most constructive signals supporting a bullish outlook for XRP comes from on-chain data. XRP balances held on centralized exchanges have collapsed from roughly $4.2 billion to about $1.3 billion over the past year.
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This translates into a significant reduction in the token’s liquid supply. This typically means that long-term holders are moving tokens into cold storage rather than positioning to sell.
Historically, sustained declines in exchange balances tend to reduce downside volatility and selling pressure, especially during consolidation phases.
This helps explain why XRP has managed to defend key support levels despite broader market uncertainty and weakening short-term momentum across the crypto market.
Technical Analysis: Falling Wedge Sets the Stage for a $3 Test
From a technical perspective, just broke a key trend line resistance and also a structural level at $1.95. This is a strong indication of a trend reversal, and could set the stage for an explosive move to $3 in the next few weeks.
The token repeatedly found support in the $1.80–$1.85 zone, a strong demand zone from which the price bounced off strongly multiple times in previous instances.
As long as XRP stays above this key level, its new bullish structure will remain intact. The $2.6 level seems to be the key resistance to watch in the next few days as this is where the 200-day exponential moving average (EMA) currently lies.
A daily close above that mark would confirm a breakout from the wedge and open the door for a move toward $3.
In addition, momentum indicators have improved dramatically. The Relative Strength Index (RSI) has bounced into the low 70s after spending some time near oversold levels. This means that bullish momentum is accelerating rapidly. This behavior is typical of early trend reversals.
As altcoins seem poised to recover, top crypto projects like Church ($CHRCH) could benefit from this trend. This is a Solana-based token that aims to help evangelical churches across the globe get the resources they need to expand the Kingdom of God through the power of community and decentralization.
Church ($CHRCH) is 100% Community-Owned and An Interesting Experiment for The Crypto World
Church ($CHRCH) gives Christians the chance to build a robust community-governed platform that distributes resources fairly to churches across the globe.
The project’s founder created a preliminary blueprint that lays out the vision for $CHRCH. It includes the launch of a DAO that makes decisions on resource distribution and a governance system that allows the community to pick the most promising projects sent by churches from all over the world.
You can become a part of this nascent project by buying and promoting $CHRCH. Simply head to Raydium or any other Solana DEX and connect your wallet.
This is the token’s official wallet address: 75WUVMhKmrdRXCk5whH5ryyH5XocuLNca3yMC3ySXray
