The post XRP’s 15% jump: Why FOMO is crucial for breaking $3 appeared on BitcoinEthereumNews.com.

XRP has jumped 15% this week, riding the wave of a market bounce after the bearish end to Q4. Is this just the beginning of a larger rally for XRP, or will it be a short-lived bounce? The market is bouncing back. Just a week into the new year, many coins are recovering ground lost during the post-FOMC meltdown. Ripple [XRP] is no exception, surging 15% to hit $2.40 – a crucial resistance point. During the “Trump pump” frenzy, Ripple’s breakout against Bitcoin [BTC] (XRP/BTC pair) was a clear signal of capital rotation, as investors shifted focus and diversified their bets. Back in November, on election day, Bitcoin surged a massive 9% in a single day, reaching $99K within just two weeks. But just as Bitcoin hit its peak, the XRP/BTC pair shot up with a 10%+ gain, showing that XRP was gaining traction. Source: TradingView Now, with the MACD lines on the verge of a bullish crossover, there’s a chance this pattern could repeat. If Bitcoin hits $100K, Ripple could follow suit, eyeing a $3 target before the month’s end. For XRP holders: Proceed with caution After a month of consolidation, Ripple is setting up for a potential breakout. The rise in Open Interest (OI) indicates that more investors are taking long positions, suggesting they’re expecting a rally in the coming days. However, there’s a catch – $2.40 — $2.46 is a strong resistance zone, and without enough buying pressure, XRP could struggle to break through and face a reversal. What’s more, exchange outflows are still under 50 million, a far cry from the $3 billion seen when XRP reached its yearly high of $2.48.  Source: CryptoQuant This points to the recent 15% jump being potentially driven by whale accumulation, possibly sparked by the new year buzz rather than…

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Filed under: News - @ January 6, 2025 2:28 pm