Ripple's Bullish Sentiment Grows: What Will Trigger XRP's Breakthrough to $2.65?
Ripple (XRP) is experiencing a surge in bullish sentiment, with analysts predicting a potential breakout to $2.65. Over the past 24 hours, XRP’s price increased by 3%, climbing 15.5% from its November 21 low to reach $2.10. Several factors are driving this optimism, including growing institutional demand, shifting trader sentiment, and a bullish technical pattern.
Institutional interest is rising, with XRP exchange-traded products (ETPs) attracting $245 million in inflows in the week ending December 5. According to CoinShares, year-to-date inflows have reached $3.1 billion, far surpassing 2024’s total of $608 million. Spot XRP ETFs in the U.S. have also seen consistent inflows, recording $10.23 million on Friday and extending a 15-day streak of net inflows. Cumulative inflows are nearing $900 million, with assets under management (AUM) hitting $861.3 million. Crypto investor Giannis Andreou noted that this accumulation often precedes a market shift.
Trader sentiment is increasingly bullish. XRP’s daily funding rate turned positive at 0.0189%, indicating that most traders are opening long positions. On Binance, the long/short ratio shows 72% of accounts are bullish, though this introduces liquidation risks. Similarly, on Hyperliquid, 72% of XRP exposure is long, totaling $94.5 million, compared to $37.6 million in short positions.
Technically, XRP has broken out of a symmetrical triangle pattern on the four-hour chart. A sustained close above the $2.15 trendline could trigger a 27% rally to $2.65. Analysts note that a daily close above $2.30 would confirm the breakout, potentially pushing prices toward $2.58, provided the $2.00 support level holds.
cointelegraph_中文12/09 03:55
