Despite growing bearish calls, a top market analyst remains convinced that XRP will rally to double digits when the current accumulation pattern concludes.
Notably, several analysts have sounded unconvinced in the continuance of the early-year XRP rally. The cryptocurrency surged to a high of $2.41 earlier this week, up from around $1.84 on January 1, outpacing gains in assets like Bitcoin, Ethereum, and BNB.
For context, Peter Brandt remains skeptical, implying that XRP would need to surge much higher to confirm its bullish reversal.
However, top technical analyst ChartNerd believes otherwise. He suggested in a commentary today that XRP may have started an uptrend with the likelihood of pushing its price to double digits.
XRP Rebounds from Key Support Area
ChartNerd noted that the recent price recovery, which saw XRP rally over 30%, meant it bounced from the lower support trendline of a vertical accumulation structure. A late-December dump took it to the support area, but bulls have defended that crucial demand zone, sparking a strong rebound.
Meanwhile, the vertical accumulation structure is part of a broader rectangular bull flag. The flag’s pole formed following XRP’s over 400% pump between September and December 2024, before entering the current accumulation phase.
“It’s Go Time”
Notably, the market commentator believes that if XRP sustains its hold above this support, the possibility of further price expansion exists. If current momentum persists, he predicts that XRP will revisit the resistance of the vertical accumulation structure.
An accompanying chart shows that this lies around the July 2025 high of $3.67, representing a 76.4% increase from the market price of $2.08.
However, ChartNerd predicts that there could be more. He suggests “it’s go time” for XRP, underscoring a bullish breakout from the bull flag and a move to unprecedented prices.
Specifically, the analyst insists the structure has a likelihood of pushing XRP to double digits, with his chart highlighting an explosive move to $23.7. Interestingly, XRP has to increase by 1,039% to reach this new all-time high.
XRP to $23?
Meanwhile, ChartNerd is not the only analyst predicting that XRP would rally to $23. Market technician EGRAG Crypto shared a similar projection in an August 2025 analysis that the coin could also reach this target if it closes above $3.65.
He had earlier predicted the move in July 2025, highlighting $23 alongside $12 as the targets if XRP breaks above the “Valhalla gate.”
If XRP reaches $23.7, as NerdChart predicted, it would reach a market cap of $1.43 trillion at a circulating supply of 60.67 billion. Market observers share conflicting views on the possibility of this, with some branding it ambitious, especially in the short term.
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