XRP On-Chain Data Flashes Buy Signal as Analysts Target $4

Varinder Singh
4 hours ago
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XRP On-Chain Data Flashes Buy Signal as Analysts Target $4

Highlights

  • XRP is flashing a promising buy signal, claims on-chain expert Santiment.
  • Historical data suggests more retail FUD bullish for XRP.
  • Analysts predict XRP price rally to $4 on falling wedge pattern breakout.

On-chain data expert Santiment claimed XRP is flashing a promising buy signal. The highest level of retail FUD with more bearish comments than bullish in the last few days is a “buy-the-dip” sign. Meanwhile, analysts continued to maintain a price target of $4 due to strong technical chart patterns, while whales remained unfazed by ETF anticipation.

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XRP Retail Sentiment Flags Promising Buy Signal: Santiment

XRP is witnessing the highest level of retail FUD since Donald Trump’s tariffs were announced months ago, Santiment reported on October 7. Lack of whale accumulation due to profit booking by Ripple co-founder Chris Larsen and the delay in spot ETF approval are the primary factors.

However, on-chain expert claims historical data suggests more bearish comments than bullish for XRP is generally a promising buy signal. Bearish comments on social media in 2 of the past 3 days have increased substantially.

XRP Bullish vs Bearish Commentary Across Social Media
XRP Bullish vs Bearish Commentary Across Social Media. Source: Santiment

Moreover, similar to their crucial role in the SEC vs Ripple lawsuit, the XRP army is preventing further price corrections. Whales and investors invested heavily at the $2.80 support level. Markets are now anticipating a move in the opposite direction to small trader expectations again.

Institutions are also investing more in altcoins like XRP and Solana, as evident from the latest Crypto Funds Inflow report by CoinShares on Monday. Ripple’s native coin saw a record $219 million in inflows, pushing total assets under management (AuM) to $3,266.

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Analysts Predict $4 Price Target

XRP trades within a falling wedge pattern, with analysts suggesting a breakout could bring a structural shift in the crypto asset. Lark Davis said Ripple’s coin “keeps getting smashed down on attempts to break the descending resistance line.” A breakout will trigger a rally to $4.

If it fails a breakout again, traders must keep an eye on the 20-day EMA at $2.94. This could take XRP price back towards $2.90 and $2.80.

XRP in Daily Timeframe
XRP in Daily Timeframe. Source: Lark Davis

According to a price analysis, the approval of spot XRP ETF by the U.S. SEC could even set the stage for $5. The coin has formed numerous bullish chart patterns on the daily chart.

XRP price is trading at $2.96, down almost 1% in the past 24 hours after failing to hold the latest rebound. The 24-hour low and high were $2.95 and $3.05, respectively. Trading volume has increased by 31% in the last 24 hours, indicating interest among traders.

Derivatives markets showed mixed sentiment, per CoinGlass data. The total XRP futures open interest jumped 2% to $9.12 billion in the last 24 hours. Also, the 4-hour futures open interest on CME climbed 1.55% and dropped 0.45% on Binance and 0.52% on OKX.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 5000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.