As XRP prepares to enter price discovery, renowned Bitcoin trader Tony Severino has warned investors that the next move could be explosive but short-lived.
His latest analysis suggests a parabolic rally is underway, and profit-taking should already be in motion. Notably, XRP has staged a monumental price run over the past few days, reaching $3.66 on Friday. This price marks one of its highest levels in the last seven years.
While impressive, Severino suggests the rally may just be beginning, but urges investors to consider locking profits soon.
XRP Breaks Out
In his analysis, Severino highlighted a massive breakout from a multi-year symmetrical triangle pattern that had kept XRP constrained since its 2018 peak. With the price now above $3 and building momentum, XRP has decisively exited its long-standing consolidation range.
This breakout mirrors the 2017 rally, during which XRP surged from under $0.01 to over $3 in a matter of weeks. Now, XRP appears to be following a similar pattern.
Its initial breakout from the seven-year consolidation occurred in November 2024, and by January 2025, XRP had reached $3.40 before entering a six-month consolidation.
Another breakout occurred in July, with XRP surpassing the January peak and reaching $3.66. Although the coin has cooled off since Friday, retracing to $3.30, analysts like Severino believe the rally is not yet over.
He is projecting a much more promising outlook for the coin. However, in his latest analysis, he did not specify how high XRP could go.
$13 Target Within 40 Days?
Meanwhile, in a previous chart, Severino suggested XRP’s final wave projection places the next top near $12.73, a 1,900% move from earlier price levels. He noted the similarities to past cycles, especially the 2017 run, where XRP’s parabolic rise occurred over just 42 days.
His forecast implies that the current rally could conclude within a similar time frame, by late August or early September, marking a peak in the ongoing cycle.
Meanwhile, many other analysts have even more bullish outlooks for this year. For example, Dustin Layton has argued that XRP could reach $50, while others like Javon Marks believe the coin could hit $99.
“What’s Your Take-Profit Level?”
While the bullish breakout excites investors, Severino stresses the importance of planning an exit strategy before the hype peaks. He cautions that what follows this rapid ascent could be an abrupt decline. This view echoes past market cycles, where euphoria gave way to capitulation.
Notably, Severino suggested that his profit target is between $8 and $13. However, many XRP proponents considered the price outlook too low.
Essentially, with XRP entering what may be its final impulsive wave, Severino’s analysis emphasizes that now is the time to plan, not react.
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.
