Saad Ullah
After months of sideways movement, XRP (XRP/USD) may be approaching a pivotal moment that could shape its trajectory for the long haul.
XRP Builds Strength Between Key Levels
According to recent analysis from ChartNerd, XRP's multi-year chart is showing signs of a "vertical accumulation phase"—a technical setup that often comes before strong upward momentum. If this pattern holds, XRP could be gearing up for a breakout that pushes it well past the $3 mark.
The monthly chart reveals that XRP has been trading within a well-defined range between two critical price zones:
- Major Support around $1.96 — a long-term base where buyers have consistently stepped in
- Major Resistance near $3.31 — a multi-year ceiling XRP has tested multiple times but hasn't convincingly broken yet
Between these levels, XRP has spent months in what's known as a "re-accumulation phase," marked by higher lows and low volatility—suggesting patient accumulation by long-term holders. This setup echoes earlier XRP cycles, where extended consolidation preceded explosive rallies once resistance finally gave way.
Right now, XRP is trading near the middle of this range, coiling just beneath the $3.31 resistance. Price has repeatedly bounced off this ceiling but continues building a rising base above $1.96, gradually tightening the range. The compression on the monthly chart—a pattern often seen before big directional moves—suggests that a breakout could be coming. A confirmed monthly close above $3.30 would likely signal the start of a fresh bullish leg, with potential targets in the $6–$8 zone.
Unlike many speculative altcoins, XRP's current structure is backed by solid fundamentals. Ripple's legal victories against the SEC have boosted confidence, while growing adoption of Ripple's On-Demand Liquidity solutions adds real-world utility. On top of that, as capital rotates away from overheated assets like Bitcoin and Ethereum, large-cap coins with strong fundamentals—like XRP—often attract renewed attention. XRP's ability to hold above $1.50 throughout 2024 reinforces that its base remains solid despite broader crypto turbulence.
Historical Parallel: Echoes of Past Cycles
XRP's current monthly pattern looks remarkably similar to its pre-bull phase in 2016–2017, when two years of consolidation preceded a massive 50x rally. We saw a similar setup in 2020–2021 before XRP surged to multi-year highs. Now, the chart is hinting at that same "quiet accumulation before expansion" behavior once again. If history repeats, the next breakout could kick off XRP's most significant rally in years.
XRP is trading within a clear range, showing steady accumulation beneath major resistance. The technical structure suggests that a decisive break above $3.30 could trigger a new long-term bullish wave, with potential targets between $6 and $8. While no chart guarantees the future, the setup points to meaningful upside—if the breakout comes through.
Saad Ullah
