The XRP price has maintained a horizontal consolidation since the beginning of the year and has attracted immense attention from the bulls. Furthermore, market participants appear to be optimistic about the impending price action, which could be a significant reason for the XRP price to sustain a healthy upswing for the remainder of the month. It has been more than 12 years since the token went live, and this is the first time it has experienced a steep rise in the users’ confidence.
The data from Santiment displays a huge rise in the number of wallets, which has reached 6.5 million for the first time in history.
The XRP’s fundamentals are flexing hard, while record wallet growth and a massive 11% holder uptick this year signal real adoption and not just hype. The institutional interest is on the rise, and social buzz, along with the ETF rumors, has been circling the bulls. Now the question arises that if ETF headlines hit or big players keep allocating, will XRP price begin with a real run post $3?
The XRP price has risen above the Gaussian Channel, and if it sustains above the levels, then it could flip to bullish, hinting towards the beginning of a fresh ascending trend. Meanwhile, the 50/200-day MA levels raise some concerns as they seem to be very close to undergoing a bearish crossover called the Death Cross. However, the volume remains in bullish favor, and some technicals have also been flashing bullish signals, which hint that the death cross could be diverted in a short while.
The RSI & CMF are rising, hinting towards the rise in the strength of the rally with a notable rise in the money flow. With this, the XRP price is expected to rise above the final resistance zone between $2.56 and $2.62 and reach 0.786 FIB at $2.78 in the next few days. If the Bulls keep up the momentum, then the token is expected to reach 1 FIB at $3.4, beyond which there could be a huge possibility of entering the discovery phase and reaching $4.
