"Golden Cross Imminent"...XRP Expected to Rally to $1.77 if $1.53 Neckline is Broken

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XRP (Ripple), which is preparing for an explosive rally by completing a massive cup-and-handle pattern, is engaged in an intense battle with a huge break-even supply wall of 1.16 billion tokens accumulated around $1.45.

According to the investment media TradingNews on April 27 (local time), XRP is continuing a sideways trend, seeking a clear direction around $1.4178. The positive aspect is that the XRP spot ETF has accumulated $1.44 billion in funds since its launch, and strong buying pressure from institutions and large investors, including whales accumulating 11 million tokens daily over the past 30 days, is strongly supporting the bottom.

Positive signals are also detected in technical charts. XRP, which has been drawing a typical cup-and-handle bullish pattern since late March, is analyzed to be able to surge by 16.64% to $1.77 if it strongly breaks the $1.53 neckline. Furthermore, with the 20-day exponential moving average (EMA) and 50-day EMA converging, a golden cross, a signal for a major uptrend, is on the horizon, strengthening the bullish outlook.

However, huge negative factors also lurk, suppressing this explosive rally. According to on-chain data, a staggering 1.16 billion tokens are concentrated in the $1.45 to $1.46 range, anticipating a fierce sell-off due to break-even psychology. Moreover, exchange inflows have surged 12-fold from 4.56 million to 55.29 million tokens in just 48 hours recently, increasing the waiting supply for profit-taking and fueling market anxiety.

Furthermore, its relative weakness against Bitcoin (BTC) is also pointed out as a short-term limitation. Macroscopically, with the delay in congressional approval of the U.S. cryptocurrency market structure bill, the Clarity Act, which would break down crucial barriers to institutional fund inflows, it is too early to expect dramatic fundamental improvements. The media assessed that a realistic target price should be readjusted to between $2.00 and $3.65, rather than a blind optimistic outlook of breaking $5 by year-end.

Consequently, a tactical buying strategy that approaches XRP investment after confirming whether it breaks $1.44 appears valid. The ability to fully absorb the massive supply wall stacked around $1.45 with ample buying volume is expected to be the only key to entering an upward trajectory towards $1.77.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*