The post XRP Eyes $5 as Bullish Pennant Sparks Blockchain Buzz appeared on BitcoinEthereumNews.com.

Bullish Pennant Pattern Could Propel XRP to $5 Cryptocurrency enthusiasts are turning their attention to XRP after renowned market analyst Maxi predicted that a bullish pennant pattern could drive the token to the $5 mark. Source: Maxi A bullish pennant forms after a sharp price rally, followed by a brief consolidation in a tight symmetrical triangle, often signaling a continuation of the upward trend. XRP’s recent surge, according to Maxi, sets the stage for this classic breakout pattern. The analyst highlighted that XRP’s trading volume and recent price action fit the classic characteristics of a bullish pennant. The initial surge, known as the flagpole, has been accompanied by high buying pressure, while the consolidation phase shows diminishing selling pressure, both indicators of potential upward momentum.  The broader market environment further supports this optimistic outlook. For instance, XRP is witnessing low speculative bias and price stability with funding rates having dropped to nearly zero. Furthermore, XRP needs to flip the $3.10 zone for a sustained bullish outlook.  At the time of this writing, XRP was trading at $3, according to CoinGecko data.  How the XRP Ledger Stands to Benefit from the U.S. Commerce Blockchain Initiative In a significant move towards blockchain integration, U.S. Commerce Secretary Howard Lutnick announced that the Department of Commerce will begin publishing official economic statistics, including Gross Domestic Product (GDP) data, on the blockchain.  This initiative, unveiled during a White House cabinet meeting, aims to enhance transparency and accessibility in federal data distribution. The XRPL, known for its high throughput, low transaction costs, and energy-efficient consensus mechanism, is uniquely positioned to support such governmental data initiatives. Unlike energy-intensive proof-of-work blockchains, XRPL’s consensus mechanism aligns with institutional demands for sustainability and cost efficiency. By leveraging XRPL’s capabilities, the U.S. government can ensure that economic data is disseminated in…

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Filed under: News - @ August 28, 2025 6:29 am