XRP hack alert! Price ready to rise by 80%

XRP, the native token of Ripple Labs, is poised to achieve significant bullish momentum after breaking through a bullish price action pattern on the daily time frame. Over the past few days, the overall cryptocurrency market has been suffering, and during this period, XRP It witnessed consolidation for a long time.

XRP price forecast

According to specialized technical analysis, XRP broke the bull flag and pole price action pattern on the daily time frame and closed a daily candle above the pattern. This hack brought an end to the long consolidation process for XRP. Based on the recent price movement, there is a strong possibility that the price will rise by 80% to reach the $4.5 level in the coming days.

This bullish pattern appears to be a textbook example, indicating an ideal buying opportunity for traders and investors looking for long-term holdings.

On-chain metrics indicate investor confidence

Combined with the recent hack, XRP investors have already shown strong interest and confidence in the coin, even during periods of price struggle. Since December 18, 2024, exchanges have recorded token inflows in just three days, despite a notable decline in prices across the market, revealed Quinglass Internal/external flow meters.

$13 million in XRP outflows from exchanges

However, in the past 24 hours, on-chain metrics indicate that investors have withdrawn a significant 13 million XRP tokens from exchanges, highlighting the ongoing accumulation by long-term holders. This continued accumulation could strongly support XRP on its rise.

Along with long-term shareholders, trader participation has also risen significantly. Since the hack, XRP’s open interest has jumped 31%, indicating strong participation from traders amid the market shift.

Current price momentum

Currently, XRP is trading near $2.54 and has seen a price increase of over 8.75% in the last 24 hours. During the same period, trading volume jumped by 60%, indicating increased participation by traders and investors.