XRP (Ripple’s digital asset) is trading within a tight range amidst a challenging six-year consolidation phase, according to new technical analysis. Analysts view the price formation as signaling conflicting market narratives.

Key Takeaways

• XRP has traded within a ~$1.90-$2.90 range for nearly 200 days, significantly consolidating after its November 2024 surge.
• Analysts diverge on XRP’s future path, suggesting targets ranging from bearish $1.33 to bullish $25.
• An analyst citing the 2017 chart suggests a potential 75% upside, while long-term monitoring highlights a 1,267-day consolidation leading to earlier 1,300% gains.

The XRP/USD pair has entered a protracted consolidation phase, trading sideways from approximately $1.90 to $2.90 since its significant price jump in late November 2024.

Current Technical Pattern: The Bullish Case

The current formation includes a symmetrical triangle structure, noted crypto analyst Mikybull Crypto, potentially mirroring a key pattern preceding XRP’s 1,300% surge in 2017. This chart pattern typically resolves either upwards or downwards.

Analysts like XRPunkie see a potential “epic breakout” above $4, while others, based on measuring from the triangle’s apex using the 2017 breakout as a benchmark, project a target around $3.70.

If history repeats, this pattern could signal a similar bullish outcome seen years ago.

The Long-Term Narrative: Higher Targets Possible

Crypto analyst GalaxyBTC highlighted a striking weekly chart fractal. Examining this long-term structure suggests XRP is now replicating the pre-breakout pattern that established itself in 2014, ultimately leading to the 2017 breakout.

The nine-year consolidation period appearing on XRP’s weekly chart (lasting ~2,470 days) is nearly double the 1,267 days of the prior consolidation that preceded the 1,300% rally.

Based on this analogy, projecting a similar 1,300% move from the “recent breakout zone” near $0.63 would push a potential XRP price top upwards to between $8 and $10. Some forward-looking analyses, incorporating Fibonacci extensions and potential ETF-driven demand, envision an even more ambitious peak near $25-$27.

The Counter-Narrative: Cup-and-Handle Failure?

Conversely, bears point to potential inverse cup-and-handle patterns forming on longer charts. While cups form at market tops, an inverse cup indicates a potential reversal pattern.

The analysis notes XRP peaking near $2.90 relative highs in March and exhibiting rounding bottom characteristics before testing and breaking below short-term support levels. If confirmed, this pattern projects concern towards the $1.33 price level.

The $1.33 target corresponds to a key 0.382 Fibonacci retracement zone that previously held as support during the 2021 XRP correction.