A market analyst has shared his post-breakout XRP price target as the asset observes up to six months of consolidation.
For context, this consolidation trend, highlighted by market watcher Poseidon on the 12-hour chart, began in December 2024 immediately after XRP’s explosive 480% surge to multi-year highs.
Stuck in a Consolidation Range
Specifically, following President Donald Trump’s victory in November 2024, XRP rallied from $0.5 to a six-year peak of $2.9 by Dec. 3, 2024. After this top, the asset faced a pullback and slipped into a consolidation phase that has persisted for six months now.
Interestingly, data from Poseidon’s chart shows that the asset’s price has oscillated between the $2 and $3 levels during the consolidation. Notably, the bears have leveraged the $3 mark as resistance against a break above the consolidation, while the bulls use the $2 level as support against a break below.
XRP has occasionally pushed above and below these psychological levels, but the price quickly witnessed a spike in either buy or sell pressure that brought it back into the consolidation range. Particularly, a push to $3.3 occurred in January 2025, and a drop to $1.6 occurred last month.
In his recent analysis, Poseidon confirmed that XRP is re-consolidating within the $2 range. However, he pointed to three clear signs of strength, indicating that the asset could be on the verge of a bullish breakout.
According to him, these signs include a failed breakdown, a reclamation of the 200 Exponential Moving Average (EMA) on the 12-hour chart, and a new higher high when XRP rose to $2.36 yesterday, Monday, May 26.
XRP to Targets $4 After Consolidation Breakout
Citing these factors, he believes XRP is ready to break above the consolidation range. He identified a descending trendline that has capped XRP’s price movements since the May 12 high of $2.6, leading to lower highs. For the asset to break above this trendline, it has to surge past $2.4.
Poseidon believes this rise will confirm the breakout potential. According to the analyst, once this occurs, his next target for XRP is the $4 mark. With XRP currently trading for $2.3, it would need to rise 74% to claim $4. This price would represent a new all-time high for the asset.
Meanwhile, market expert Dom (@traderview2) is also watching the XRP/USOIL pair for a potential breakout. He suggested that XRP shows strength here despite the noise. Notably, the asset has cooled since recently hitting a range high.
Interestingly, Dom has maintained the idea that once XRP breaks above this range high, its price will skyrocket further. According to him, this high represents the $2.47 level on the USD chart, aligning with Poseidon’s breakout mark. Dom believes any movement below this level is just noise.
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