XRP is back in the spotlight as veteran trader Peter Brandt suggests the altcoin could be warming up for a major breakout.
In his latest analysis, Brandt pointed out that XRP has been moving sideways on both the monthly chart. Notably, this is a sign that often comes before a strong move in either direction. He believes this period of price consolidation could soon give way to a sharp push higher, especially as the market trends upward.
XRP Monthly Chart Confirms Brandt’s View
Interestingly, the monthly chart confirms Brandt’s view. For years, XRP traded within a large symmetrical triangle, where each rally made lower highs and each dip formed higher lows.
This pattern, which stretched from early 2018 until late 2024, kept the price tightly squeezed until XRP finally broke above the upper boundary of the triangle in November 2024. The breakout came with a surge in buying volume, which added strength and credibility to the move.
Since then, XRP has been trading in a narrow range between roughly $2 and $3. This sideways movement, which analysts call a high base, tends to appear after a big breakout and shows that buyers are still in control.
Importantly, it indicates that the market is catching its breath before the next leg up. Right now, XRP holds steady above its 8-month simple moving average, which continues to slope upwards and helps confirm the uptrend.
Meanwhile, the technical indicators also paint a strong bullish picture. For one, the Average Directional Index (ADX) currently sits above 51, showing that XRP’s trend remains powerful. Meanwhile, the Average True Range (ATR), which measures volatility, has dropped slightly. This is a typical behavior when markets pause before a bigger move.
Analysts Expecting Massive XRP Upsurge
Other crypto analysts share a similar outlook. For instance, well-known XRP chartist Dark Defender pushed back against the idea that XRP had formed a bearish head-and-shoulders pattern.
He pointed out that XRP already reached the key Fibonacci extension level of $2.77 and believes the asset has entered a clear fifth wave breakout, based on Elliott Wave Theory.
Another market watcher, CryptoInsightsUK, highlighted that XRP recently broke out of a price range between $2.00 and $2.30. He explained that XRP now faces a key test near $2.60.
$XRP range breakout hit perfectly yesterday;
Now, $XRP is fighting a key resistance level at $2.60. A break of this and we are looking at $3.00, then ATHs.
I have just finished this weeks newsletter (out tomorrow) in this I've discussed when I think this happens, why and what… pic.twitter.com/D0f57nNn6o
— Cryptoinsightuk (@Cryptoinsightuk) July 11, 2025
A clean break above this level, in his view, could clear the way for a move toward $3.00 and possibly new all-time highs. Interestingly, XRP has already pushed past this resistance zone, showing that buyers remain firmly in control.
Currently, XRP has climbed 24% in the past week and stands 26% higher so far in July, currently trading for $2.8 as it eyes the $3 mark. These gains come as the broader crypto market shows massive strength across, which adds fuel to XRP’s recent rally. Recently, an analyst suggested that nothing exciting is happening until XRP breaches $3.84.
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.
