XRP Price Consolidates Near $2.25 Amid Profit-Taking; Breakout Potential Looms
XRP price has traded in a tight $2.10–$2.50 range for over four months following its late-2024 rally, forming a symmetrical consolidation pattern. On-chain data from Glassnode shows investors have been cashing out roughly $70 million in realized profits daily, many having accumulated near $0.60 before the US elections. Volatility indicators point to an imminent move: Bollinger Bands are at their narrowest since January, while the RSI at 44 signals room to climb. Institutional catalysts, including the Toronto Stock Exchange’s listing of three spot XRP ETFs and whale balances rising above 1 million XRP, underpin bullish sentiment. A decisive breakout above $2.50 could target previous highs at $3.40 and even $5.00, offering traders a clear entry point.
Bullish
The extended consolidation and profit-taking phase, highlighted by daily realized sales and tight Bollinger Bands, suggests an imminent volatility expansion. Combined with supportive on-chain metrics—RSI showing bullish room, whale accumulation above 1 million XRP—and institutional catalysts like spot ETF listings, this setup favors an upside breakout. In the short term, traders can anticipate increased momentum and a clear resistance test. Over the longer term, renewed buying pressure could drive XRP back to prior highs near $3.40 and beyond.