Analysts believe XRP could be setting up for a major breakout that might lead to a new peak, building from last week’s bull run.
In the last 24 hours, XRP is up 5.12%, trading at $2.27. This uptick came after the asset briefly retested lows at $2.10 yesterday, following a move closer to the $2.30 level. For the past two weeks, XRP has traded within a tight range of $2.00 to $2.29. It failed to break out despite the broader bull market momentum, with Bitcoin reclaiming the $95K level.
However, market watchers believe XRP is now ripe for this long-awaited breakout, with a possible move toward a new all-time high.
“XRP: Is it time?”
In a tweet, analyst Maelius suggested it could be time for XRP to move, citing patterns from a 3-day chart. The chart shows XRP forming a descending triangle with a series of lower highs. Notably, the price has recently begun breaking out of this downtrend.
The downtrend followed a major surge that lifted XRP above $3, but the market has since cooled, finding support around $2. The 50 EMA has flattened beneath the price, acting as a crucial backbone for bulls to defend.
Despite the promising technical structure, one key element remains missing: volume. Trading activity has been in decline since the frenzy earlier in January. Meanwhile, XRP’s RSI on the 3-day chart hovers around 50, reflecting a neutral state, neither overbought nor oversold.
Maelius captured the chart’s promising sentiment, questioning if it was time for a breakout and noting that “it begs for volume to arrive.” This highlights that XRP’s breakout could gain real momentum once meaningful buying pressure returns.
XRP Needs Aggressive Buying
Analyst Dom agrees with Maelius’s sentiment, suggesting that XRP needs some aggressive buyers to step in. He argues that such action could quickly bring back the long-lost $2.40 level. Dom added that XRP order books have remained pretty thin.
Yeah it just needs some aggressive buyers to step in and $2.40s could come soon
Orderbooks remain pretty thin up until there pic.twitter.com/jZkf2aW88v
— Dom (@traderview2) April 27, 2025
Essentially, XRP stands poised on the edge of a breakout, but without a decisive influx of volume, the setup risks fading into continued sideways movement.
XRP Breakout Could Lead to $5 and Beyond
Meanwhile, widely followed market analyst “World of Charts” shared a bolder outlook on XRP’s chart formation, highlighting a potential price target.
He first acknowledged that after XRP’s fourfold price surge, it consolidated within a tight range. According to him, XRP is now gearing up for another breakout.
Specifically, he stated that this breakout could come much sooner, pushing the price toward $5 in the coming weeks. This development would mark a new all-time high for XRP.
Notably, the foundation of this target is the observation from XRP’s 2-day chart, which highlighted the dramatic rise from $0.49 in November 2024 to $2.50 the following month. He expects a similar price pattern to unfold in the ongoing breakout.
However, other market watchers like XForceGlobal have reasons to believe XRP could be setting up for a $10 price target upon a successful breakout.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
