The crypto market is abuzz as Ripple (XRP) seems to be leaning towards a potential breakout. A crypto analyst by the name of Ali Martinez just observed a classic bullish pattern in the charts – an inverse head and shoulders, which indicates a period of upward momentum. Martinez suggested that the Ripple price surge to $2.70 in the short term.
Martinez discussed the technical analysis on social media and went on to note that XRP is prepping for a breakout. The pattern is showing sufficient strength in the market, and if confirmed, may lead to an XRP price increase, which would be well above the price for over a week of consolidation.
Analysts Forecast Higher XRP Price Surge Targets
Ali Martinez is not alone in his optimism. Another prominent market analyst – “Dark Defender” – had a more aggressive forecast that anticipated XRP could hit as high as $3.75 at current momentum. Their indicators included high RSI and XRP closing above a couple of key resistance zones.
As of April 23, 2025, XRP is trading at $2.27, reflecting a 7.95% increase over the past 24 hours. While there’s been a modest 1% dip in that time, analysts remain optimistic about a Ripple price surge. Historical data shows that similar chart patterns have previously led to significant moves, including a 490% spike from $0.49 to $2.90 in late 2024.
Ripple Network Activity and On-Chain Signals
Adding weight to the XRP Bullish Chart formation is a sharp rise in Ripple network activity. On April 22, active addresses on the XRP Ledger jumped by over 67%, rising from approximately 27,000 to more than 40,000 in a single day. Such a spike in on-chain interactions often precedes major price movements.
This rise in network activity is a positive signal for both the XRP price today and the broader market. Although still well below the March peak of over 600,000 daily active addresses, the recent increase suggests growing user interest and engagement with Ripple’s blockchain.
Whale Accumulation and Investor Sentiment
Another positive signal for the potential for a Ripple price surge, is the constant (and somewhat growing) accumulation of whales. Data from Santiment indicates that wallets containing from 10 million to 100 million XRP have increased their holdings from 10.91% at the beginning of April to 11.83% now, as well as the holdings of wallets with over 1 billion XRP, which have also increased, and now account for more than 39% of circulating supply.
The increase whale activity is a sign of growing investor confidence and often signifies the potential for an XRP price surge. As well, the daily exchange inflows of XRP have decreased significantly, from 2.7 billion tokens of XRP at the start of the year, to just 74 million tokens. This shows that whales are holding XRP rather than selling, and historical trends show this typically leads to more XRP price support.
Key XRP Price Resistance and Support Levels
While there are positive signs, the XRP price resistance levels continue to be an obstacle. XRP price today hit $2.30 and broke the 2.22 resistance, where the 100-day Exponential Moving Average resides. A confirmation of a breakout above this resistance could send the Ripple price surging rapidly towards the target of $2.70. The XRP price support is in the $2.00 range. If the token cannot keep its footing in this spot, analysts are warning of pullbacks to about $1.96. These XRP price support and XRP price resistance levels are key levels for defining the short-term direction of the token.
Source: Coinfomania / Digpu NewsTex