XRP Price Prediction- Bulls Target $17 Next As Active Addresses Surge 41% And Open Interest Hits ATH

XRP price is rising today, July 18, after registering a 7% gain in 24 hours to trade at $3.43 with daily trading volumes of $23 billion as the level of market interest towards the token increases. The ongoing gains have enabled XRP to move past a major resistance that has been preventing meaningful gains for the last eight months, suggesting that a move towards $17 might occur soon.

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XRP Price Gears for 480% Rally to $17

Retail traders are shifting towards XRP to avoid missing out on the ongoing rally, and the resulting surge in buying pressure has allowed the price to gain above the resistance of a bull flag. Based on the height of the flag pole in this pattern, the XRP price might register a rally of more than 480% in the coming months that pushes it above $17 if retail buyers do not reach a point of exhaustion.

The rally that is beginning above the resistance of this bullish flag seems strong based on the ADX indicator, which is changing its course to tip north following a drastic drop in the last six months. This indicator is now showing that the rise in price might continue and could result in a 480% increase to $17.

Additionally, the rising RSI also shows that buying pressure is higher than the selling pressure, and this might support another rally, considering that the value of 69 shows that a bullish momentum is currently in play.

XRP/USDT: 1-Week Chart (Source: TradingView)This bullish XRP price forecast depicted above comes amid growing speculation that the GENIUS Act will fuel gains for XRP. The positive change in US crypto regulations that is expected to happen in the coming months might be among the factors that drive the next bullish run for this altcoin.

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XRP Active Addresses Surge, Open Interest Peaks

The number of daily XRP addresses has risen in the last 24 hours, which shows that there is a massive surge in interest from investors, which might turn into buying pressure that drives a recovery. According to Santiment data, these addresses increased from 58,000 to 82,000 within a day.

XRP Daily Active Addresses (Source: Santiment)This surging demand is also in the open interest metric, which is now above $11 billion after increasing by 12% within 24 hours. This open interest is now at a record high, as the funding rate also rises, to show that traders who are speculating on the future performance are opening new positions as bullish predictions on XRP price emerge.

In conclusion, the XRP price rally might still be in its early stages despite the recent rally to the highest level in seven years. The rally pushed XRP out of resistance in a bull flag pattern, and as the level of interest in this altcoin increases, it is possible that the price rallies to $17.

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Frequently Asked Questions (FAQs)

1. Can XRP price reach $17?

XRP price could reach $17 after confirming a breakout from a bull flag pattern, suggesting that a 480% surge is likely to happen.

2. Can XRP sustain its rally?

XRP could sustain its rally if the buying pressure remains strong and the sentiment in the broader market remains bullish.

3. What is the impact of rising active addresses on XRP’s performance?

The rising active addresses will likely have a bullish effect on the XRP performance as the level of retail interest grows.

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