XRP Price Prediction for January 2
After a 12% increase, the price of XRP, the native token of Ripple Labs, is expected to continue its upward trend. Traders and investors have shown increased interest in XRP, as seen through on-chain metrics like open interest, the long/short ratio, and inflow/outflow data.
Traders Rising Interest
However, data also shows that traders are betting more on long positions due to the bullish market sentiment surrounding XRP. On the other hand, long-term holders are selling their holdings, likely taking profits after accumulating during price declines.
Long-Term Holders Cash Out?
Recent data from XRP spot inflow/outflow reveals that exchanges have seen a significant inflow of $57.55 million worth of XRP as the price gained momentum. This is the first time in the past two weeks that exchanges have experienced an XRP inflow. However, this inflow is smaller than what long-term holders accumulated over the past two weeks.
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, XRP is expected to break out from a bullish flag and pole pattern on the daily time frame. However, it is currently facing resistance near the $2.34 level.
XRP Price Prediction
If XRP surpasses this resistance and confirms the breakout, it could potentially reach the $4.45 level in the future, marking an 80% increase. The Relative Strength Index (RSI) for XRP is currently at 56.85, indicating that there is room for significant growth in the coming days.
Current Price Momentum
At the moment, XRP is trading around $2.33 and has seen an 11% increase in the past 24 hours. The trading volume has also surged by 30%, indicating increased participation from traders and investors during this potential breakout.
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