XRP Price Action Echoes 2024 Rally Setup Amid Uncertainty
XRP's price action is echoing its 2024 rally setup, but the outcome is far from certain. The altcoin has been consistently hinting at a repetition of the 2024-style rally, with every signal appearing to not materialize.
The recent leverage flush and current price action align with the 2024 setup, which started with a final bull trap, followed by a capitulation and accumulation window before an explosive rally. If this pattern repeats, XRP could exceed $4 by year-end.
Bulls are anticipating a breakout from the current accumulation window, while bears argue that the altcoin is still in decline. The MA Cross hints at further decline as social sentiment weakens, but the RSI Divergence has printed bullish signals.
The opposing signals delay the pattern playing out but also set the altcoin up for a bigger rally. Even the XRP ETF inflows have flipped to positive after five days of inactivity, with $592.47K flowing into the altcoin's ETFs.