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XRP may rise by 27% as a bullish wedge forms and whales accumulate
In December, the price of XRP fell by almost 15%. Currently, the altcoin is trading approximately 47% below its yearly high. Despite the significant decline, there are several catalysts that could contribute to the recovery of the digital asset in the coming weeks.
For example, “whales” have once again shown interest in the altcoin and have begun accumulating it over the past week. According to Santiment, since December 22, the number of large investors holding between 10,000 and 1 billion XRP has increased noticeably. If such activity continues, it could improve market sentiment and lead to an increase in the cryptocurrency’s price in the short term.
The success of XRP ETFs is also contributing to the recovery of the altcoin. According to SoSoValue, investors invested nearly $64 million into the funds this week, bringing total inflows to $1.14 billion. At the time of publication, assets under management in XRP ETFs exceeded $1.25 billion.
Technical analysis further supports optimistic forecasts. On the daily chart, the price of XRP has formed a bullish “falling wedge” pattern amid a downtrend characterized by a series of lower lows and lower highs. Such patterns typically form when a downtrend is approaching its end. If current demand persists, this could support price growth.
At the time of publication, the price of XRP was also testing support and resistance levels around $1.90. A breakout above this level would further confirm the wedge formation and could trigger a move toward the $2.58–$2.65 zone, which served as a key resistance area earlier this year. Based on current prices, this zone is approximately 27% higher.
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