Upbit XRP Volume Soars, Bullish Pattern Points to $5 Breakout
XRP trading volume on Upbit jumped to $2.07 billion in 24 hours, outpacing BTC and ETH as South Korean retail investors drive renewed demand. Strong institutional interest and positive regulatory sentiment have fuelled aggressive accumulation.
Technically, XRP is forming a classic inverse head and shoulders around the $2.40 neckline. A confirmed breakout above this level could spark a rally toward $3.10.
More recently, the token has posted higher lows near $2.63–$2.65 support, with rising volume indicating upward momentum. Analysts warn that sustained daily closes above this zone may trigger a $4.50–$5.00 breakout, aligned with Fibonacci extensions and past resistance.
This surge on Upbit underscores South Korea’s growing influence on global crypto markets and highlights XRP’s utility in cross-border payments and asset tokenization. Traders should monitor key support and resistance levels and watch for volume confirmation to gauge short-term momentum and long-term bullish potential.
Bullish
The surge in XRP trading volume on Upbit, combined with the formation of a classic inverse head and shoulders and subsequent higher lows, suggests weakening selling pressure and growing bullish momentum. In the short term, a confirmed breakout above the $2.40 neckline or daily closes above $2.63–$2.65 could trigger momentum-driven rallies toward $3.10 and beyond. Over the longer term, sustained accumulation by retail and institutional investors, coupled with positive regulatory sentiment in South Korea, may support further gains up to the $4.50–$5.00 Fibonacci target. These factors point to a clear bullish outlook for XRP, as traders capitalize on technical breakouts and fundamental drivers in the global crypto market.