thecryptobasic.com
XRP is showing early signs of strength after months of sideways movement, with traders pointing to a familiar price structure that previously led to a major upside breakout.
At the time of writing, XRP is trading at $1.94, up 2.13% over the past day, though it remains down 7.2% over the past week.
- XRP shows strength as traders spot a familiar setup that has led to a major breakout before.
- Technical charts suggest XRP is nearing the end of a long consolidation phase.
- A breakout could send XRP toward $4, requiring just over a 100% price surge.
- Analysts say extended consolidation supports higher targets, with some calling for $6.
XRP “Looks Good”
Widely followed trader DonWedge shared a 12-hour XRP chart on TradingView, summarizing his outlook with a simple message: “XRP looks good.”
The chart highlights a repeating technical pattern that has appeared twice over the past year. In both cases, XRP formed a descending channel following a strong rally.
Notably, the first instance was XRP’s move from $0.49 to $3.34 between November 2024 and January 2025. The chart illustrates how XRP rallied sharply, delivering 6x gains, before entering a controlled downward channel that saw it dip below $1.80 over a six-month period.
Once selling pressure faded, XRP broke out decisively in July, eventually reaching $3.66.
Current Structure Mirrors Past Setup
The current structure now closely mirrors that earlier setup. Specifically, XRP has once again spent six months moving within a falling channel, with the price now pressing near the lower boundary as volatility compresses. As a result, the market is increasingly eager for a resumption of a new uptrend.
$4 Is a Possible Next Target
DonWedge’s projection outlines a breakout scenario that could send XRP toward the $4 level. This zone aligns with a measured move similar to the previous post-consolidation breakout.
While the chart does not suggest an immediate move, it implies that once XRP exits the channel, the next leg higher could be swift rather than gradual. Notably, from current levels, XRP would need just over a 106% price surge to reach $4, which would mark a new all-time high.
DonWedge’s “looks good” comment reflects rising confidence among technical traders that XRP’s long consolidation phase may be nearing its end. While a move to $4 is not guaranteed, the price action suggests XRP is building strength.
Calls for $6 XRP
In a separate analysis this week, Elliott Wave analyst XForceGlobal stated that XRP is in an accumulation phase rather than a bearish zone and could reach a $6 price target.
He noted that XRP has been consolidating for over a year within its current pattern and for more than eight years in a broader cycle. Such extended consolidation phases often precede strong breakouts.
According to XForceGlobal, XRP’s long-term triangle breakout remains valid, and recent pullbacks are simply normal market noise. Despite short-term volatility, he considers $6 a conservative target, adding that long, quiet periods that frustrate some holders are a natural part of the process.