XRP’s Bullish Flag Points to Upward, But Indicator Says “Not Yet”

Core Viewpoint - Ripple's XRP is showing signs of a potential breakout, with a bullish flag pattern indicating a possible 15% price increase in the near term, although caution is advised due to a potential short-term dip [1][2][5]. Technical Analysis - A bullish flag pattern has formed on the XRP/USD daily chart, with the token attempting to close above the upper line of the pattern over the past six trading sessions, confirming bullish strength [2][3]. - A breakout above the flag's upper line could lead to a price target of $3.45, with further potential to reach $4 if demand strengthens [3][5]. Market Sentiment - XRP's funding rate in the derivatives market is currently positive at 0.0064%, indicating that most traders are positioning for further upside, reflecting strong market confidence [3][4]. - Sustained positive funding rates suggest a bullish market sentiment towards XRP's price potential [4]. Cautionary Indicators - The Moving Average Convergence Divergence (MACD) has formed a bearish crossover, indicating a potential brief dip before the next surge, as buying pressure appears to be weakening [5][6].