XRP appears to be in the early stages of a bullish breakout that mirrors the significant 2017 pattern, now more than twice as large. Recent technical analysis and chart patterns suggest the coin may experience a robust upward move.
Chart Patterns and Historical Comparison
The chart displays historical price movement from 2014 to 2025, showing multiple cycles with large parabolic formations. Descending triangle formations indicate prolonged consolidation before breakouts occur.
A tweet from crypto analyst Javon Marks indicated that XRP broke out of a similar pattern in November 2024. The tweet compares this breakout to the notable 2017 structure, noting it is more than twice as large.
Key Levels and Technical Indicators
XRP recently broke out of a descending wedge formation that signals a potential trend reversal. A key support level of around $2.04 held firm against a further price decline.
Technical indicators confirm bullish signals in the current phase. The RSI stands at 51.71 and is moving upward. Meanwhile, the MACD line crosses above its signal line, and the histogram shows growing buying pressure.
Future Price Outlook and Market Sentiment
At writing, XRP was trading for $2.57 with high trading volumes. The currency posted a 3.71% gain in 24 hours and a 15.81% gain in a week.
In case the breakout is sustained, XRP can test resistance levels between $2.80 and $3.00. A pullback to around $2.40 is likely before a further move upwards. A failure to hold above $2.40 can result in a retracement to the $2.04 level.
Market sentiment continues to be cautious with investors awaiting confirmation from these levels for positive movements to hold. Such a setup can be conducive to further positive gains in the event of progressive breakouts in resistance levels.
The analysis indicates that XRP is on the verge of a new growth phase supported by historical patterns and technical indicators. Investors should closely monitor key levels and confirmation of these signals to capitalize on potential benefits from the bullish momentum.
