In a recent post, analyst STEPH IS CRYPTO warned the crypto community of a potential "mega breakout" for XRP that may occur soon.
Technical Signals for Breakout
Steph's analysis is based on a well-defined descending triangle pattern on XRP's three-day chart, forming since January 2025. This pattern often predicts volatile breakouts following price compressions into a tight range. XRP has repeatedly tested support above $2.00 while facing resistance around $2.33.
The key signal to watch is a daily close above $2.33. If confirmed, it could initiate a sustained rally that breaks the current consolidation. Volume indicators support this viewpoint.
Projected Price Levels
Using Fibonacci extensions, Steph outlined a series of ambitious yet technically grounded price targets. The first leg, projected at $5.38, corresponds to the 0.618 Fibonacci extension. If momentum accelerates, further price levels at $11.31, $23.78, and even $37.63 may come into view.
Steph emphasized that these projections are not short-term predictions, but part of a broader multi-leg breakout that could unfold over weeks or months.
Macroeconomic Factors and Risks
External market dynamics may serve as catalysts. Increasing regulatory clarity, especially following Ripple's legal successes against the SEC, is creating a positive perception around XRP. However, risks remain: a significant liquidity block around $2.00 represents a sell wall, and if the price rejects from resistance and breaks below support levels like $2.06 or $1.95, it could invalidate or delay the bullish setup.
With converging technical signals and positive market sentiment, XRP appears poised for a significant breakout. The $2.33 level will be crucial for future developments.