Here’s When XRP Could Finally Break Out of Its Current Consolidation — If It’s Following 2017

Historical data from its 2017 performance shows that XRP might be closer to breaking out of the current consolidation pattern than many believe.

Market analyst Xoom highlighted this positioning in a recent disclosure amid XRP’s underwhelming performance. Despite not appreciating like the rest of the market in early May, the altcoin has collapsed alongside the market since late May, now trading below the pivotal $2.2 support.

This extends a bearish consolidation phase that has lasted for too long, since February, with market participants growing impatient by the day. Comments from analysts such as Ripple Van Wickle have also not helped matters, with the market watcher suggesting this week that XRP’s chart looks “horrible.”

XRP Following 2017 Precedent 

However, Mr. Xoom has found that this consolidation might be close to an end. He highlighted data from XRP’s 2017 historical performance, which closely resembles the current price action, as the inspiration behind this latest suggestion.

Interestingly, data shows that XRP could indeed be following the 2017 fractal. Specifically, after underperforming at the start of that bull run, XRP eventually saw a massive explosion, soaring from $0.00555 in March 2017 to a peak of $0.3988 in May 2017. 

However, the asset faced a roadblock at this peak, leading to a pullback below the $0.3 mark a month later. For the rest of this period, XRP observed a bearish consolidation phase, just like it’s witnessing right now. This bearish consolidation lasted for 210 days before XRP eventually broke out to hit $3.8 in January 2018.

Timeline for XRP Breakout

This exact pattern appears to be playing out in the current bull run. Notably, after consolidating at the start of this bull run, XRP’s price eventually skyrocketed in November 2024, leading to a rally from $0.5 to $3.4 in mid-January 2025.

Nonetheless, this $3.4 peak featured massive resistance that resulted in another pullback. Now, XRP has entered into a consolidation phase similar to what it saw in 2017. Highlighting this similarity, Xoom confirmed that XRP is now 190 days into the current consolidation. 

As a result, he expects a breakout in the next two to four weeks. If this plays out, XRP could witness a change in market momentum this month or in early July. However, there is no guarantee this would occur, as current market dynamics could delay or accelerate the timeline this time, especially considering new factors like institutional demand and ETFs.

XRP Liquidity and Upside Targets

However, while he expects a breakout soon, Xoom failed to present any price targets for when this breakout occurs. Interestingly, even before the breakout materializes, Xoom has suggested that XRP must first drop to the $2 mark to scoop up liquidity before it can observe a reasonable pump. 

Meanwhile, market technician Gert van Lagen is already projecting lofty targets for XRP. In a previous analysis, he highlighted a seven-year XRP double-bottom structure. According to him, XRP is currently retesting the breakout from the pattern and could hit $38 once it completes this retest.

Currently, XRP changes hands at $2.13. From this level, XRP would need to drop another 6% to reach Xoom’s $2 support for liquidity. However, it would have to spike 1,800% from the $2 level to claim $38.