XRP has experienced a significant rebound, gaining nearly 21% from its recent low of sub-$2 recorded on November 21. Multiple technical indicators and on-chain data suggest that the $2.80 price target is now within reach.
XRP Price Bull Pennant Targets $2.80
The four-hour chart for XRP indicates the formation of a bull pennant pattern, suggesting a potential for a strong upward movement once this pattern is confirmed.
Analyst Crypto Batman commented on the situation in an X post on Friday, stating, "XRP is looking really solid here. Not only has it reclaimed its previous support, but it’s also breaking out of a classic bullish pennant, a strong continuation pattern."
A confirmed breakout, marked by a four-hour candlestick close above the pennant's upper trendline at $2.22, could pave the way for XRP to ascend towards the bull pennant's target of $2.80, representing a 25% increase from its current price.
The relative strength index (RSI) has shown a notable increase, rising to 55 from oversold conditions of 23 on November 21, signaling a significant surge in upward momentum.
Furthermore, a break above the 20-day exponential moving average (EMA) at $2.20 could indicate a potential trend change, empowering buyers to drive the XRP/USD pair towards the upper boundary of the descending channel, which is situated at $2.70.
XRP’s V-Shaped Recovery Pattern Targets $2.70
On the daily chart, XRP's price action has been exhibiting a V-shaped recovery pattern since early November.
Currently, the XRP/USD pair is trading below a key supply zone, spanning from $2.30 to $2.63, where several major simple moving averages (SMAs) are located.
For bulls to increase the likelihood of the price reaching the neckline at $2.70 and completing the V-shaped pattern, they need to push the price above this critical area. Such a move would signify a 23% price increase from current levels.
XRP bulls can also find encouragement in the moving average convergence divergence (MACD) indicator, which is currently signaling a bullish cross and a strengthening upward momentum.
Analyst Terra Army remarked in an X post, "MACD turning green and the RSI recovering, XRP’s momentum is slowly returning. If XRP reclaims the $2.30–$2.40 range with volume, things could get exciting again."
Falling XRP Supply on Exchanges is Bullish
Data from Glassnode reveals a significant decrease in XRP supply held on exchanges over the past 60 days.
The XRP balance on exchanges has fallen by over 45%, from 3.95 billion XRP on September 21 to 2.6 billion tokens on November 27.
A reduction in exchange balances indicates that holders are less inclined to sell, which reinforces the potential for upward price movement in XRP.
X user BD noted, "XRP reserves on Binance are collapsing as holders move XRP off the exchanges. Less sell pressure is a stronger setup for a big move later."
🚨 UPDATE: Binance’s XRP reserves have fallen to about 2.7B, one of the lowest ever, as steady outflows show investors pulling tokens off the exchange. pic.twitter.com/qm3yOQ2T6k
— Cointelegraph (@Cointelegraph) November 27, 2025
XRP Spot Taker CVD Signals High Buyer Volumes
An analysis of the 90-day spot taker cumulative volume delta (CVD) shows that buy orders have once again become dominant. CVD measures the cumulative difference between buy and sell volume over a three-month period.
Sell-side pressure had previously dominated the order book until late October, coinciding with the XRP/USD pair's drop to multi-month lows of $1.58 on October 10.
Positive CVD, represented by green bars in the accompanying chart, indicates a resurgence in demand, with buyers taking control of the market.
If the CVD continues to remain green, it would signify that buyers are maintaining their position, potentially setting the stage for another upward price movement, consistent with historical recovery patterns.
The chart illustrates that more buy orders are being executed in the market than sell orders.
This suggests sustained demand despite the recent price rally and generally indicates that the price may continue its upward trajectory.
Spot XRP ETFs Produce Nine-Day Inflow Streak
The consistent demand for XRP can be partly attributed to U.S.-based spot XRP exchange-traded funds (ETFs), which have continued to attract significant investor interest. These investment products have recorded nine consecutive days of inflows since their launch, highlighting robust institutional demand.
According to data from SoSoValue, U.S.-based XRP ETFs saw inflows of $2.81 million on Thursday, bringing the cumulative inflows to $643 million and total net assets to over $767 million.
The 21Shares spot XRP ETF is scheduled to go live on Monday, and with more ETFs awaiting approval, these developments are expected to provide further positive momentum for XRP's price.
JUST IN: 🇺🇸 21Shares spot $XRP ETF will go live on Monday.
— Ash Crypto (@AshCrypto) November 28, 2025
Bullish for XRP 🚀 pic.twitter.com/ke7hH8VnRO
Multiple indicators suggest that XRP is in a bullish position at current prices, reinforcing the potential for it to advance towards the $3.30–$3.50 range in the coming weeks.