After a considerable period of lateral trading, XRP appears to be primed for a noteworthy breakout. Analysts point out that the prominent altcoin underwent a phenomenal 700% upswing last year. Currently, it seems poised to conclude a seven-month stabilization stage, potentially paving the way for another bullish turn.
A recent technical chart shared by market authority ‘Crypto Michael’ on the platform X (formerly known as Twitter) highlights that XRP has been in a consolidation period for seven months following an impressive 700% price boost. This increase was prompted by a breakout from a Symmetrical Triangle pattern that had been in place for multiple years. The chart, utilizing a three-month candlestick, indicates that XRP had been undergoing significant price compression within the triangle pattern for seven years.
True to expectations, XRP finally surpassed the upper trendline of the pennant in late 2024, triggering one of its most robust quarterly rallies to date. This breakout resulted in a price escalation of about 700%, propelling the cryptocurrency from roughly $0.6 to over $2.
Post this remarkable breakout, XRP has entered a phase of stabilization, trading sideways in what seems to be a robust consolidation range. This consolidation zone is well marked with a white circle on the chart, indicating a well-defined post-breakout phase. Interestingly, XRP’s $2.15 price at the time of the analysis is above previous resistance levels, suggesting that the cryptocurrency is holding its ground while anticipating its next bullish trigger.
‘Crypto Michael’ further notes that XRP’s consolidation stage is concluding just as Bitcoin, the largest cryptocurrency globally, is nearing a crucial milestone: the “8-year line.” This parallel points towards a potential broader shift in market sentiment.
Historically, leading altcoins such as XRP have mirrored Bitcoin’s trajectory during wider market rallies. If BTC successfully surpasses this long-standing line, ‘Crypto Michael’ predicts it could act as a macro trigger, sparking a fresh bullish wave for XRP.
An additional analysis by Egrag Crypto, a crypto analyst on X, suggests that the XRP/BTC pair could be on the brink of a significant breakout. This pair has adhered to a consistent cycle for over a decade, with lows in 2015, 2017, 2020, and 2024—each followed by strong rallies. These lows coincide with a rising trendline, hinting at potential long-term strength.
Currently, XRP/BTC is nearing a crucial resistance level that has stymied past rallies since 2015. This time, however, Egrag Crypto believes the setup looks different and slightly more favorable for a breakout. If the pair surpasses this multi-year ceiling, it could signal a major turning point, propelling XRP into a potent bullish phase. The analyst’s chart outlines two potential trajectories: a green breakout zone if XRP ascends and a red rejection zone if it fails to overcome this key resistance yet again.
