XRP’s latest price action has sparked discussions in the crypto community as technical indicators suggest a potential rally. Top analyst Javon Marks highlighted on X (formerly Twitter) that XRP’s momentum, measured by the RSI, has broken out again.
The last time a similar pattern appeared, XRP’s price surged by nearly 470%, increasing its value sixfold. With XRP currently consolidating within a specific price range, many traders are closely watching for another potential breakout.
XRP Historical Price Movements and Breakout Patterns
XRP’s price chart shows two distinct consolidation phases. In both cases, the price traded sideways before experiencing a major breakout. The first consolidation occurred at a lower level and was followed by a sharp upward movement, resulting in a 6X surge. The second consolidation is happening at a higher level, creating expectations that XRP may replicate its previous price action.
The breakout pattern follows a recognizable trend: extended sideways movement, followed by an RSI breakout and a strong price increase. If the same pattern plays out again, the price of XRP could be preparing for another upward trajectory.
Moreover, the RSI indicator has played a key role in past XRP price surges. A falling wedge pattern formed within the RSI during both consolidation periods, signaling a weakening downtrend. When the RSI broke out of this pattern previously, XRP’s price experienced a substantial rally.
The latest RSI breakout suggests renewed buying momentum. Looking at the past, these signals have often led to strong price increases, suggesting XRP might be ready to jump. If XRP follows its old pattern, it could break out of its current price range.
Read Also: Injective (INJ) Price Crash Incoming? Expert Warns of a Major Market Cycle Shift!
XRP Support and Resistance Levels to Watch
Right now, XRP’s price is testing the bottom of its trading range. This level has been holding as support, keeping the price from falling further. The next hurdle is the top of this range. If price breaks above this, we could see the uptrend continue.
The last rally started when XRP broke out of a similar range, and this could happen again. Traders are monitoring whether XRP will hold above support and move toward the resistance zone.
XRP Potential Price Movement Based on Historical Data
Based on what we’ve seen before, breaking out of this consolidation could trigger another strong move up. The last time we saw this setup, XRP rallied 6X, which is why traders are paying attention now. If XRP’s price keeps its momentum and breaks through resistance, we might see another big surge.
Javon Marks agrees with this sentiment, noting that XRP has reached a place where past trends suggest a solid direction is around the corner. While nothing in crypto is ever guaranteed, investors and analysts are watching closely to determine if XRP will continue its past trend.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
