- Analysts see $2.14 as a potential XRP buy despite recent gains, anticipating further pump with market revival and a strong chart.
- XRP’s 1D chart shows a potential bullish reversal (“W” pattern) bouncing off a downward trendline, suggesting short-sellers may face losses.
- Binance futures traders are heavily bullish on the token (66.86% long), but past similar sentiment preceded a price drop, warranting caution.
XRP is all poised for a price pump, in tandem with the general market revival. Analysts suggest the current price level at $2.14 could potentially be a good buying opportunity, despite a recent upward move. This reinforces market expectations that further gains are likely.
However, traders who are betting on the price of XRP to decline (short-sellers) might be at a loss as they are forced to cover their trades at higher prices. In the 1-day chart, the token forms a downward-sloping trendline linking previous lows, and the price seems to be bouncing off this line, forming potential “higher lows.”
“$XRP might be or might not be a good BUY here since it has pumped a lot since bottom but it will pump when market flows.“
Also, there are horizontal lines likely indicating potential resistance levels and a higher price point target area highlighted as “$$$.” The price candles suggest a potential “W” or double bottom pattern, which is usually a sign of bullish reversal. Overall, XRP’s price technicals depict a strong chart setup that could lead to a significant price increase, potentially causing losses for those who are shorting the token.
XRP Warning Signs Flash
Recently, well-known trader and market analyst Ali Martinez shared how the majority of Binance futures traders (who are betting on XRP’s future price moves) have turned bullish, with over 66% of all positions opened being long.
66.86% of traders in Binance with open $XRP positions are going long!
Although this might initially seem like positive news, a closer look into the token’s price performance after such a scenario gives a different picture. The last time Binance futures traders were this bullish was on April 5-6, when the percentage of longs surpassed 70%.
The next day, the Ripple-affiliated token plummeted below the key $2 resistance to a multi-month low of $1.6. This, however, fits with the broader market momentum due to the increased strains in financial markets across the globe owing to Trump’s tariff plan.