Key Insights
Is XRP following its typical Q4 trend, consolidating post-July dip, and displaying early signs of strength? Could a parabolic surge be on the horizon by year-end?
Ripple’s XRP price movement appears to be repeating its Q4 cycle.
It seems a similar market distribution might be unfolding behind the scenes.
On July 24th, Long-Term Holder (LTH) profit-taking surged to $375 million, coinciding with XRP’s peak at $3.55. This triggered a 10.33% intraday drop, the largest red candle in over three months.
In essence, if XRP dips below $3, it could mirror early Q1 action. Last year, $2 turned into support, leading to a 60%+ rally to $3.35 by mid-January.
The question remains: Are bulls anticipating this setup?
XRP Aims for Support Breakout
Ripple’s consolidation is testing HODLers’ patience.
Long-Term Holders tend to sell off as XRP nears their cost basis. Following January’s peak, XRP traded sideways for five months before surging over 80% to a $3.65 high by mid-July.
The $375 million realized gains were not arbitrary. Despite retracing to $3, a 6.45% bounce the next day validated the support level.
If history repeats itself, XRP might be replicating its Q4 setup.
Long-Term Holders are selling into strength while structural support holds firm. With a shift in market sentiment, XRP could embark on another significant rally akin to November. This scenario could propel Ripple to $5.40 by mid-Q1, representing an 80% surge.