TL;DR
Ripple (XRP) was trading at $2.58 at press time, up 6.56% in the last 24 hours and 15.15% over the past week. Trading volume has also climbed to $5.87 billion, up 28.20% from the previous day, indicating a rise in market activity.
Chart analysis confirms a breakout from a large multi-year symmetrical triangle that formed between 2018 and 2024. This pattern resembles XRP’s 2017 structure, where a sharp impulse move was followed by a period of consolidation, then another leg higher. If the pattern repeats, a second breakout move may be underway.
Interestingly, the pattern shows XRP closely tracking its historical trend. After breaking out of the macro triangle, the price quickly surged, leaving behind multiple resistance levels. It has since held steady above $2.54, showing structural strength.
The RSI is in overbought territory, reaching levels not seen since 2017. This reinforces the momentum behind the breakout and shows continued buyer interest.
Whale activity has recently picked up. A transfer of 40 million XRP (worth over $101 million) between unknown wallets was flagged by Whale Alert.
As CryptoPotato reported, another transaction involving 25.49 million XRP was sent from a private wallet to Coinbase. Such moves often draw attention as they can precede large market activity.
These transfers coincide with XRP’s rising price and add interest to the current setup, although the intent behind them remains unknown.
Crypto analyst Javon Marks shared that XRP could still be on track for a move toward $9.63, based on fractal analysis and Fibonacci extensions.
https://twitter.com/JavonTM1/status/1943507600080805977?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank
“XRP’s history still points to the next leg up leading into $9.631+, if not well beyond,” he posted.
Meanwhile, the technical structure remains bullish as long as price holds above $2. XRP’s consolidation at higher levels may set the stage for a second upward impulse, aligning with historical patterns.
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