XRP’s native cryptocurrency, developed by Ripple Labs, is poised for a significant upside move as it remains in a consolidation phase amidst falling peers like Solana and Polkadot. Despite trading below its 2024 highs, key catalysts could propel the coin upward.
One bullish indicator is XRP whales accumulating coins, with data showing they bought 1 billion tokens in the last 48 hours. This suggests they are optimistic about the future of XRP. Additionally, a spot XRP exchange-traded fund (ETF) approval by the Securities and Exchange Commission (SEC) is expected to happen in 2025, with odds ranging from 51% to 68%.
Ripple’s technicals also support an upward trend. The daily chart reveals a bullish pennant pattern, indicating a potential continuation sign in trading. XRP has remained above its 50-day moving average and the MVRV indicator is undervalued at 2.5. Key levels to watch include the extreme overshoot point of the Murrey Math Lines, followed by the 2024 high of $2.90, and the psychological level at $3.
Source: https://crypto.news/3-reasons-why-ripple-xrp-primed-for-big-upside-move