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XRP ETF Approval Odds Soar to 70% on Polymarket The odds of an XRP ETF approval soared to 70% today on crypto-based predictions market Polymarket. This increased optimism comes after XRP reached an all-time high earlier today, reaching $3.39 for the first time in nearly seven years. $XRP

Another calm before the storm for $XRP

$XRP has broken into new yearly high territory but has since pulled back slightly. We’re currently testing previous highs, with the market hovering around the 2017-2018 highs at around $3.28. Although the price hasn’t sustained the breakout, the trend is still positive, with Bitcoin pushing higher. Fibonacci Extension Levels: The next key Fibonacci levels for $XRP are around $4.20 and $5. These levels are based on the Fibonacci extension of the initial price movement. The $5 level is especially important as it is part of a larger pattern and tends to hold more significance in this scenario. The $4.20 level, while still relevant, may not be as strong. If $XRP continues its upward trajectory, it could see these targets being tested in the near future. Short-Term Price Action: In terms of short-term movement, the overall uptrend is still intact. The key support zone has consistently held between the $2.52 and $2.94 range. The price has shown higher lows and lower highs, which indicates that the bullish structure is intact. During this consolidation phase, several triangle breakouts have been observed, and these often result in rapid price movement when the breakout happens. It’s important to know that these moves are not parabolic yet, but the trend is clearly leaning toward the upside. Support Levels: Current support levels are between $2.52 and $2.94. If the price dips into this area, it could be a buying opportunity. However, there is no guarantee of a pullback yet. If $XRP breaks below the $2.52 level or the $2.30 level (the January 13th low), it could signal a reversal in the trend. The trend is still bullish, but a break below $2.52 could indicate a warning. The focus remains on higher prices, with pullbacks potentially offering buying opportunities.

Ripple’s $XRP soared to a new all-time high of 3.41$$ on January 16, sparking excitement in the market. However, this rally has quickly been followed by a surge in profit-taking, threatening to undo the recent gains. On January 20, $XRP saw an outflow of 74 million from its spot markets—its largest one-day outflow in 30 days. This suggests that investors are selling or withdrawing their holdings, which can signal a lack of confidence or a desire to lock in profits. When such outflows occur, the price often faces downward pressure, creating a potential for further selling and a deeper price decline. $XRP daily trading volume also dropped by 26%, despite a modest 2% price increase over the last 24 hours. This negative divergence, where the price rises without accompanying volume, suggests weakening momentum and the possibility of a price reversal or consolidation. At the time of writing, $XRP is trading at 3.11$, and if selloffs persist, it could dip toward support at 2.45$. However, should the current uptrend hold, the token could retest its all-time high or push higher.

An article like this signals an indeed macro bottom for $ETH You all remember a Forbes article that labeled $XRP as a zombie token last year which eventually spelled a macro bottom for XRP.