Usman Salis
While retail traders got absolutely wrecked in yesterday's crypto massacre, one analyst spotted something bullish brewing for XRP (Ripple). On August 15, they flagged a textbook bullish flag pattern on XRP's daily chart - the kind that usually leads to explosive moves up. Their bold target? $5.00.
This call came right after one of the nastiest liquidation events we've seen this quarter. Over $1 billion in leveraged positions got wiped out, sending XRP crashing to $3.05. But here's the kicker - while everyone was panicking, blockchain data showed whales were quietly scooping up XRP at those discounted prices. That buying helped push XRP back above $3.10 before settling around $3.00.
Why XRP $5 Target Makes Sense Despite the Carnage
Look, a $5 XRP price prediction sounds crazy after a 7% daily drop. But this wasn't really about XRP - the whole crypto market got caught in a liquidation tsunami while traditional markets went risk-off before the Fed's Jackson Hole meeting.
When the S&P 500 sneezes, crypto catches pneumonia. XRP hit $3.05 support hard, but institutional buyers showed up. The recovery tells the real story: trading volume crashed 38% after the sell-off, meaning liquidation pressure burned out. Those late-session volume spikes? Smart money accumulating while others panicked.
Can XRP (Ripple) Actually Hit $5? The Roadmap
XRP's got hurdles to clear first. The $3.13 level flipped from support to resistance - XRP needs to break above this and hold before any moonshot becomes realistic.
Then there's the macro situation. Crypto still dances to the stock market's tune, and everyone's watching for Fed curveballs at Jackson Hole. But here's what's got bulls excited: XRP trades close to all-time highs, and this consolidation looks eerily similar to what happened before previous explosive moves. Sometimes the best setups come right after the worst crashes.
Usman Salis
