XRP Bullish Breakout Looms: Key Signals Point to Growth

• XRP closed above the 21 EMA, signaling a potential bullish trend in the short term.
• Ongoing accumulation below $3 has provided a strong foundation for XRP’s future growth.
• XRP’s dominance, Fibonacci breakout, and bullish patterns suggest a potential rally ahead.

Analyst Egrag Crypto has recently shared the analysis of XRP in the 4-hour timeframe, and the market performance of XRP is a topic of interest amongst the crypto community. The digital asset traded above the 21 Exponential Moving Average (EMA) on Tuesday, which could signal the beginning of a bullish trend. This signal is considered the main driving force for the short-term upward trend.

This is a positive sign that the bulls are returning to the market and taking control, as the price is trading above the 21 EMA. According to Egrag, investors have been buying XRP at every price level below $3. The fund’s ongoing accumulation pattern has provided a robust base for subsequent growth, especially when the market environment changes.

Dominance Drives Market Moves

The analyst also identified market dominance as a key factor in the crypto market analysis. Although price action tends to be the primary focus, dominance helps to provide a more detailed perspective of how liquidity is flowing through the market. When Bitcoin dominance decreases, altcoins, such as XRP, gain from higher liquidity flow towards riskier investments. This phenomenon has had positive historical implications for the growth of altcoins.

Every investor should know the liquidity flow to improve their market position. As Egrag noted, such tracking enables investors to understand movements and, thus, benefit from specific tendencies even before they become more visible.

XRP Set for Major Move

XRP’s dominance remains steady, and multiple technical metrics suggest a bull run is imminent. The analyst observed that the ABC corrective waves have been completed, which normally means that a bear market is over and a bull market is beginning. The price of XRP also exhibits a zig-zag pattern, which is usually a sign of a bullish reversal.

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Another major signal was XRP’s recent close above the Fibonacci 0.888 level, a critical resistance level broken through within a day. This rapid movement shows that buyers are quite aggressive. Also, XRP’s dominance is currently above the Williams Alligator moving averages and the 21 EMA, which supports the bullish trend. 

As of press time, XRP is trading at $3.10, showing a 10.43% higher price than a day ago. These positive signs suggest more gains for XRP in the coming days, indicating that XRP may be primed for a larger move, with the market waiting for confirmation.

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