XRP is showing impressive growth, establishing a new high that brings renewed optimism among traders and analysts. At the time of writing, XRP is priced at $2.59, marking a 6.03% increase over the past 24 hours and a 16.86% increase for the week.
Breakout Confirms Long-Term Bullish Structure
Technical analysis indicates that XRP has broken out of a symmetrical triangle that has been forming since 2018. This multi-year consolidation pattern now appears to be resolved to the upside, reminiscent of XRP's dramatic rally in late 2017. The price has already climbed above several previous resistance zones and has held above $2.54, indicating the integrity of the breakout.
Large-Scale XRP Movements Raise Market Curiosity
Whale activity around XRP has increased. Recently, a transfer of 25.49 million XRP worth over $60 million was flagged from an unidentified wallet to the Coinbase exchange. Another notable transaction involved 214.1 million XRP worth $500 million moved from an old wallet to a newly activated address. Although the reasons for these transfers are unknown, historical data suggests that such large transactions often precede significant price movements.
Analysts Eye Higher Targets as Momentum Builds
Several market analysts believe XRP's recent rally may not yet be over. Crypto chartist Javon Marks identified $9.63 as a potential target based on fractal patterns and Fibonacci levels. He noted that XRP is repeating a historical structure that could push the token to the $9.631 range. External factors, such as anticipation around ETF approvals in the U.S., may also support this trajectory.
With XRP breaking free from a six-year consolidation pattern, traders and long-term holders are watching closely. If history repeats itself, the current setup could be just the beginning of a larger move that redefines XRP's place in the digital asset landscape.
