XRP's price has completed a 32-week consolidation period, drawing comparisons to prior rallies in 2017. Analysts suggest that Week 33 could trigger a significant movement.
XRP Price Mirrors 2017 Consolidation Structure
XRP has remained in a tight range for 32 weeks, closely resembling the situation from 2017 before its breakout. Historical analysis shows that XRP underwent a similar 32-week consolidation in 2017, after which a major rally began. A chart shared by Ripplesinwales highlights this 32-week structure and its current repetition.
Confirmed Breakout from Multi-Year Triangle
Additionally, XRP has confirmed a breakout from a symmetrical triangle formed since early 2021. The recent closure above the triangle’s resistance line is interpreted as confirmation of a breakout. Exiting above these levels is often viewed as a bullish signal, with potential follow-up consolidation around $2.32.
Key Price Levels and Technical Setups to Watch
At the time of writing, XRP price was around $2.30, attempting to breach key Fibonacci levels. If the price holds above the breakout area, the next resistance level is between $2.90 and $3.50. A breach of this zone may lead to a retest of historical highs above $3.80, with a psychological target of $5.
The recent 32-week consolidation, confirmed breakout from the triangle, and increasing trading volume create optimistic expectations for XRP. Future price movements will depend on maintaining key levels and overall market conditions.
