XRP has demonstrated strong bullish momentum, rising nearly 4% over the last 24 hours to trade at $3.1197 at press time. The cryptocurrency has gained 2.8% in the past day and 3.2% over the past week, showing fresh strength as it approaches critical technical levels.
On the hourly chart, XRP has made a false breakout of the local resistance at $3.1375, but analysts suggest that if the daily bar closes around or above this mark, there is a high probability of testing the $3.15 zone soon. From a longer time frame perspective, XRP appears bullish as it approaches the $3.155 resistance level. A successful breakout could trigger accumulated energy for a move toward the $3.20-$3.30 range.
Key technical analysis reveals that XRP is pressing against the neckline of an inverse head-and-shoulders pattern near $3.21. A daily close above this level would confirm the bullish reversal pattern, projecting a target of approximately $3.75—which would mark a new all-time high and represent a 21% increase from current levels. Support lies at $2.94 (near the right shoulder level), while a drop below $2.69 would invalidate the bullish setup.
On-chain metrics provide additional bullish signals. The Spent Coins Age Band metric shows that long-term holders in the 180-365 day group dramatically reduced their selling activity, moving from 12.59 million XRP on September 16 to just 118,000 XRP two days later—a 99% decrease. This pause in selling by profitable investors (XRP has gained over 430% in the past year) signals conviction that higher prices may be ahead.
Simultaneously, HODL Waves data indicates that newer buyers are entering the market. The 1-week to 1-month cohort grew from 2.61% on September 7 to 4.88% by September 17, while the 1-3 month group expanded from 8.97% in mid-August to 11.12% by September 17. This combination of long-term holders holding tight and short-term investors actively accumulating creates a balance of conviction and fresh demand that could support further price appreciation.