What to Know:
- XRP’s technical setup mirrors patterns from early 2025, suggesting a potential double-digit rally in November.
- On-chain data highlights record XRP withdrawals from exchanges, signaling strong accumulation and reduced selling pressure.
- A significant liquidity cluster around $2.68 could trigger short liquidations, potentially propelling XRP toward $3.
XRP is showing promising signs as it aims to recover from a slight dip in October, with technical indicators and on-chain data pointing toward a bullish outlook. Recent developments, including substantial XRP accumulation, support the potential for continued upward momentum. This analysis explores the factors that could drive XRP’s price higher in the coming weeks.
The current price recovery of XRP reflects patterns observed earlier in 2025, specifically rebounds from its ascending trendline support. If this fractal plays out again, we could see an initial move toward $2.77, followed by a rally toward the $2.75 to $3.00 range, representing a potential 12% to 18% increase. This technical setup suggests a favorable environment for XRP in November.
Recent on-chain data reveals significant XRP outflows from exchanges, with a record 2.78 million XRP leaving exchange wallets. This coincided with reports of Evernorth’s $1 billion XRP treasury purchase, indicating strong accumulation by large holders. Such outflows typically reduce immediate sell-side pressure, reinforcing the possibility of a sustained rebound.
Additionally, a substantial liquidity cluster around $2.68 could act as a catalyst for further price appreciation. The concentration of leveraged positions at this level means a breakout could trigger short liquidations, potentially leading to a short squeeze and pushing XRP toward the $2.75 to $3.00 target range. Monitoring these levels will be crucial for traders and investors.
In conclusion, XRP exhibits several bullish signals, including favorable technical patterns, strong accumulation trends, and potential short liquidation triggers. While the broader crypto market, including Bitcoin and the anticipation of spot ETFs, could influence XRP’s trajectory, these internal factors suggest a positive outlook. Investors should closely watch key price levels and market developments to capitalize on potential opportunities.
Source: Original article
