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Despite growing bearish calls, a top market analyst remains convinced that $XRP will rally to double digits when the current accumulation pattern concludes.
Notably, several analysts have sounded unconvinced in the continuance of the early-year $XRP rally. The cryptocurrency surged to a high of $2.41 earlier this week, up from around $1.84 on January 1, outpacing gains in assets like Bitcoin, Ethereum, and BNB.
For context, Peter Brandt remains skeptical, implying that $XRP would need to surge much higher to confirm its bullish reversal.
However, top technical analyst ChartNerd believes otherwise. He suggested in a commentary today that $XRP may have started an uptrend with the likelihood of pushing its price to double digits.
$XRP Rebounds from Key Support Area
ChartNerd noted that the recent price recovery, which saw $XRP rally over 30%, meant it bounced from the lower support trendline of a vertical accumulation structure. A late-December dump took it to the support area, but bulls have defended that crucial demand zone, sparking a strong rebound.
Meanwhile, the vertical accumulation structure is part of a broader rectangular bull flag. The flag’s pole formed following $XRP’s over 400% pump between September and December 2024, before entering the current accumulation phase.
“It’s Go Time”
Notably, the market commentator believes that if $XRP sustains its hold above this support, the possibility of further price expansion exists. If current momentum persists, he predicts that $XRP will revisit the resistance of the vertical accumulation structure.
An accompanying chart shows that this lies around the July 2025 high of $3.67, representing a 76.4% increase from the market price of $2.08.
$XRP Bull Flag Pattern/ChartNerd">
However, ChartNerd predicts that there could be more. He suggests “it’s go time” for $XRP, underscoring a bullish breakout from the bull flag and a move to unprecedented prices.
Specifically, the analyst insists the structure has a likelihood of pushing $XRP to double digits, with his chart highlighting an explosive move to $23.7. Interestingly, $XRP has to increase by 1,039% to reach this new all-time high.
$XRP to $23?
Meanwhile, ChartNerd is not the only analyst predicting that $XRP would rally to $23. Market technician EGRAG Crypto shared a similar projection in an August 2025 analysis that the coin could also reach this target if it closes above $3.65.
He had earlier predicted the move in July 2025, highlighting $23 alongside $12 as the targets if $XRP breaks above the “Valhalla gate.”
If $XRP reaches $23.7, as NerdChart predicted, it would reach a market cap of $1.43 trillion at a circulating supply of 60.67 billion. Market observers share conflicting views on the possibility of this, with some branding it ambitious, especially in the short term.