XRP community is buzzing with anticipation following a recent forecast shared by renowned analyst XRPunkie. The expert pointed to the completion of a significant technical formation on the XRP chart that could herald a major price breakthrough.
Analyst Forecast and Current Situation
Analyst XRPunkie highlighted that XRP has escaped from a multi-year descending wedge formation earlier in 2025, successfully surging above the $0.60 mark. Currently, XRP is trading at approximately $2.27 and maintains its position above critical moving averages, forming strong support levels.
Key Fibonacci Levels for Potential Growth
XRPunkie identified essential Fibonacci extension levels for traders. He noted $6.45 at the 1.618 extension level, $8.90 at the 1.786 extension, and the 2.0 extension reaching $13.42. These levels are seen as potential profit-taking zones if the breakout occurs.
Overall Conditions and XRP Market
Increasing confidence in the market is also bolstered by developments within Ripple's ecosystem, including the rollout of the RLUSD stablecoin and increasing utilization of the XRP Ledger. On-chain data indicates rising user activity and decreased selling pressure, both of which are positive signs for a bullish scenario.
The anticipation for a significant surge in XRP is heightened by technical configurations and favorable trends within the ecosystem, with analysts suggesting that a breakout may occur soon.
