XRP Price Poised for Short-Term Surge Amid Technical and Fundamental Indicators

According to Odaily, the price of XRP has rebounded nearly 21% from its low on November 21, with various technical, on-chain, and fundamental indicators suggesting a potential rise to $2.80 in the short term. Technical analyst Crypto Batman notes that XRP's four-hour chart is forming a bullish pennant, a strong continuation pattern. If XRP's price closes above the upper trendline of this pattern at $2.22, it could further rise to the pennant target price of $2.80. Additionally, a V-shaped reversal pattern on the daily chart and a bullish crossover in the Moving Average Convergence Divergence (MACD) indicator support a price rebound to $2.70. On-chain data from Glassnode reveals that XRP balances on exchanges have decreased by over 45% to 2.6 billion tokens in the past 60 days, indicating a lack of selling pressure from holders. Meanwhile, CryptoQuant's 90-day spot cumulative volume delta (CVD) shows a positive value, suggesting that buy orders are dominant and demand is recovering. Fundamentally, the U.S. spot XRP ETF has recorded net inflows for nine consecutive days since its launch, reflecting strong institutional demand. SoSoValue data indicates that on Thursday, the XRP ETF saw inflows of $2.81 million, with cumulative net inflows reaching $643 million. The 21Shares spot XRP ETF is expected to go live on Monday, with more ETFs awaiting approval, potentially providing further momentum for XRP's price.