XRP price action is approaching a critical point as it continues to trade sideways within a tightening triangle pattern.
According to technical analyst CryptoWZRD, XRP has been consolidating for 75 days, forming a structure that often precedes explosive breakouts. The analyst noted that the range is tightening, suggesting a powerful price move may be imminent.
At the time of writing, XRP is trading around $2.83, hovering just below the $3.05 resistance zone that has capped its recent rallies.
Breakout Above $3.05 Could Trigger a Rally to $3.65
Notably, the chart shared by CryptoWZRD highlights a descending triangle, with support at $2.78 and resistance gradually compressing toward $3.05.
A breakout above this resistance may mark the beginning of a new bullish phase, targeting the $3.65 level. This technical area is important, as XRP faced opposition there in July. Since then, it entered its current consolidation phase that’s now concluding. Approaching this level again could reward today’s holders with a potential 20% upside.
This possible scenario may attract interest from traders who have been waiting for XRP to break out of its prolonged consolidation, igniting stronger momentum-driven buying pressure.
“XRP Always Rewards the Patient”
In his analysis, CryptoWZRD encouraged holders to remain calm amid the current low volatility, stating that “XRP always rewards the patient.”
This sentiment aligns with a popular belief among XRP supporters: patience during slow market periods can lead to considerable gains when momentum returns.
Recent price action supports this view. In 2024, Bitcoin repeatedly broke new all-time highs while XRP remained relatively stagnant, leading many to dismiss the token as underperforming. However, by the end of the year, XRP staged a notable rally that rewarded even long-term holders who had been underwater since 2018.
Although momentum has since cooled, and frustration has resurfaced, hopes for another breakout remain especially as Bitcoin sets new record highs.
How High Can XRP Go After the Consolidation Breaks?
Separately, technical analyst ChartNerd suggested that XRP could surge to $27. He drew parallels to Amazon’s decade-long consolidation from 1999 to 2009. He noted that XRP, like Amazon at the time, has spent years trading below its all-time high and may now be entering a “pre-breakout” phase similar to Amazon’s before its massive rally.
Specifically, ChartNerd pointed out that Amazon broke out after nearly 10 years of sideways movement, eventually rising from $5 to over $200. He suggests that XRP, having spent eight years below its 2018 peak of $3.84, could experience a similar breakout.
Other analysts share this bullish outlook. EGRAG also targets $27 using Fibonacci extensions and regression models. At the same time, Nick Anderson of Bullrunners predicts an even more extreme scenario, suggesting XRP could surpass $100 if it follows a trajectory similar to Amazon’s.
Despite ongoing skepticism, these analysts argue that market history often repeats itself, and XRP’s prolonged consolidation could serve as the foundation for a parabolic move higher.
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.
