XRP holders back in profit as price gears up for a 55% breakout

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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. 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’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. 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. 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. This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.

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