Ripple: Does THIS historical setup indicate a bullish breakout for XRP?

• XRP mirrors its final cycle, the place consolidation sparked a 70% breakout.
• Will greed for fast positive factors as soon as once more crush FOMO?

Ripple’s[XRP] previous consolidation sparked a large rally to $3.40 as billions poured into its ledger. With XRP now holding regular between $2.30 and $2.50, might persistence be the important thing to even higher returns?

Greed or concern : The vital alternative forward

XRP is down 30% from its mid-January peak of $3.40, with promote orders dominating the perpetual market and leverage at a yearly low. 

Futures merchants have been exiting positions regardless of Ripple by no means hitting an overheated state – proof that greed took over, with buyers chasing fast positive factors as an alternative of HODLing for greater returns.

Quick-forward to now, XRP has been caught in a decent vary for 5 days – a setup that, within the final cycle, led to a month-long consolidation earlier than a large 70% breakout. 

Supply: TradingView (XRP/USDT)

If historical past repeats, XRP might be gearing up for the same rally, doubtlessly pushing it to $4.25 earlier than Q1 ends. However will greed for fast positive factors as soon as once more suppress the fear-of-missing-out? 

With a 4.80% bounce within the final 24 hours, indicators of renewed FOMO are creeping in, fueled by “market-wide” optimism because the crypto market cap rises 2.35%, reclaiming early February ranges.

Nonetheless, with Bitcoin dominance nonetheless holding robust, is Ripple’s repeat of its 70% breakout nonetheless out of attain?

Key situations XRP should meet

Within the final cycle, XRP’s breakout previous $3 was no fluke. It was fueled by whales strategically accumulating, injecting $4 billion price of XRP into their portfolios since November.

In the meantime, the XRP/BTC pair hit its yearly excessive as capital flooded into Ripple, pushed by retail FOMO. From the chart beneath, Ripple may be organising for an additional explosive surge.

Supply: Santiment

Simply this previous week, wallets holding 10M – 1B XRP acquired an extra 550 million tokens, boosting their holdings by 5.55%. The consequence? It sparked a 3.09% value bounce the very subsequent day.

Life like or not, right here’s XRP market cap in BTC’s phrases

Déjà vu? The XRP/BTC pair is signaling an identical setup, squeezing short-sellers and laying the groundwork for a breakout.

If this pattern holds, regardless of market volatility, a 70% rally to $4.25 might not be far off – making HODLing Ripple the play to observe.