XRP holders back in profit as price gears up for a 55% breakout
TL;DR
XRP's price rebound of 28% from $1.12 has pushed holders back into profit, with the current price at $1.41. Analysts project a potential rally of 55% to $2.40.
Key points
- XRP holders are back in profit after reclaiming its realized price at $1.41
- XRP's price has rebounded 28% from its macro low of $1.12
- Analysts project a 55% rally to $2.40
XRP’s (XRP) 28% rebound from its macro low at $1.12 pushed it above its realized price. In other words, the average XRP holder is no longer in the red.
Is this enough fuel for the bulls to push the altcoin’s price to $2.24?
Key takeaways:
- XRP holders are back in profit after reclaiming its realized price at $1.41.
- XRP’s symmetrical triangle projects a 55% rally to $2.40.
XRP trades above its cost basis
Data from TradingView shows the XRP/USD pair trading at $1.44, up 1.6% over the last 24 hours and 5% over the last seven days.
This means XRP is holding above its realized price, the average cost of all coins based on when they last moved, currently at $1.41, according to data from Glassnode.
The average XRP holder returning to profit after unrealized losses provides meaningful financial relief for many holders, signaling a bullish outlook.
Related: XRP price bottom signals emerge after the altcoin holds key support level
Historically, breaking above this level shifted market sentiment from “fear,” reducing sell pressure from underwater holders and encouraging holding.
The chart below shows that when the price reclaimed its realized price after hovering below it for a few months in mid-2024, it rallied 460% to $2.90 from $0.52.
XRP realized price. Source: Glassnode
Holding above $1.40 is crucial for the bulls to ensure a potential upward breakout.
On the upside, the key levels of resistance to watch out for are the 111-day moving average (MA) at $1.57, the 200-day MA at $1.88 and the 365-day MA at $2.22, based on XRP’s technical pricing model.
XRP technical pricing model. Source: Glassnode
XRP’s symmetrical triangle targets $2.40
XRP has been consolidating within a symmetrical triangle for more than two months, as shown in the chart below.
The XRP/USD pair must break and close above the upper trend line of the triangle at $1.46 to continue the upward trajectory.
The measured target of the pattern, calculated by adding the triangle’s height to the breakout point, is $2.24, 55% above the current price.
XRP/USD 12-hour chart. Source: Cointelegraph/TradingView
Technical analyst and trader ChartNerd said the moving averages between $1.35 and $1.40 “need to be held” to keep the bullish outlook in play.
XRP/USD daily chart Source: X/ChartNerd
As Cointelegraph reported, buyers will have to achieve a daily candlestick close above the upper trendline of a descending parallel channel at $1.60 to confirm a potential trend change.
Q&A
What is the current price of XRP and how does it compare to its realized price?
The current price of XRP is $1.41, which is above its realized price, indicating that average holders are now in profit.
What price target do analysts predict for XRP following its recent rebound?
Analysts project a potential price target of $2.40 for XRP, representing a 55% increase from its current price.
How much has XRP's price increased from its macro low?
XRP's price has increased by 28% from its macro low of $1.12.
