Five Xrp Charts Suggest A Short-term Price Rally To $2.80 Is Next

Multiple technical, onchain and fundamental indicators suggest a potential XRP price rally toward $2.80 in the coming days.

XRP (XRP) has rebounded nearly 21% from its sub-$2 lows reached on Nov. 21, as multiple technical and onchain signals put a $2.80 target within reach.

XRP technical chart setups converge on a $2.80 target.

Declining supply on exchanges suggests a lack of intention to sell by holders, signaling long-term conviction.

Positive Spot taker CVD remains, and persistent XRP ETF inflows suggest confidence among buyers.

The four-hour chart shows XRP price trading with a bull pennant, hinting at a strong upward move once the pattern is confirmed.

“$XRP is looking really solid here,” said analyst Crypto Batman in an X post on Friday, adding:

A four-hour candlestick close above the pennant’s upper trendline at $2.22 will clear that path for XRP’s rise toward the bull pennant’s target at $2.80, representing a 25% increase from the current price.

The relative strength index has increased to 55 from oversold conditions of 23 on Nov. 21, indicating a significant increase in upward momentum.

As Cointelegraph reported, a break above the 20-day EMA at $2.20 could signal a potential trend change, bolstering buyers to push the XRP/USD pair toward the upper boundary of the descending channel at $2.70.

Source: CoinTelegraph