XRP has surged nearly 21% from sub-$2 levels on Nov. 21, with onchain signals pointing to a $2.80 target. Technical setups align on a bullish trajectory, with declining supply on exchanges indicating long-term holder conviction and positive buyer confidence in XRP ETF inflows. A breakout above $2.22 could propel XRP to $2.80.

XRP’s daily chart displays a bull pennant formation, signaling a potential upward move upon confirmation. The relative strength index has rebounded significantly, with a break above the 20-day EMA at $2.20 potentially shifting the trend towards $2.70. A V-shaped recovery pattern has formed, targeting $2.70 with a bullish MACD cross.

XRP’s supply on exchanges has decreased by 45% over the past 60 days, suggesting reduced selling pressure and a potential big move ahead. Spot taker CVD signals high buyer volumes, indicating sustained demand and historical price uptrends. US-based XRP ETFs have seen nine consecutive days of inflows, driving institutional interest and supporting the altcoin’s price momentum.

Read more at Cointelegraph: More XRP Metrics are Suggesting a Rally to $2.80 is Now in Play