2025-3-30 17:29 |
XRP has continued to exhibit frailty, experiencing a sharp decline on Friday amid a broader cryptocurrency market pullback.
This drop comes despite positive developments, including the SEC settling with Ripple, advancements on XRP ETFs, and the inclusion of XRP in a U.S. strategic stockpile. While these factors indicate strong fundamentals, XRP has struggled to break past the key resistance level of $2.85
However, analyst EGRAG CRYPTO believes this consolidation phase will not last long. In a Friday tweet, the pundit highlighted how XRP typically experiences two peaks during bull runs. Reviewing past cycles, he noted that in 2021, the second peak occurred after 90 days, whereas in 2017, it took 120 days, suggesting the same could repeat.
“XRP – 90 to 120 Days Until ATH. The RSI chart below shows important historical patterns!… This historical timeframe provides us with a potential timeline for a great opportunity! Will history repeat itself, or will we experience an even longer peak?” he wrote.
Earlier last week, he reaffirmed his confidence that when XRP breaks out, the move could be substantial. He outlined multiple price targets, with the most conservative at $15, representing a 514% gain from current levels. Based on standard breakout measurements, another key target is $22, although his personal target remains $27, a level he first identified in December after a structural breakout.
Elsewhere, popular analyst Ali Martinez has pointed out that if XRP manages to break above $3, it could invalidate the existing head-and-shoulders pattern, potentially flipping the outlook bullish. However, earlier, he had noted that the pattern is not yet confirmed since the price has not broken the support neckline, asserting that should the neckline hold, XRP could surge toward $5.
Meanwhile, analyst Dark Defender has identified a bullish flag in XRP’s chart. According to him, the ongoing consolidation phase is nearing its end, and the next leg up could lead to new all-time highs. Based on this pattern, he has set a take-profit target of $12.
Some analysts, like RandomCryptoPal, are taking a long-term perspective. He pointed out that XRP recently broke out of a seven-year consolidation phase, which could set the stage for a rally similar to the one seen in 2017. He further emphasized that the 2017 XRP surged from $0.003 to $3.31, questioning why a similar move from $3 to much higher levels would not be possible this time.
XRP traded at $2.13 at press time, reflecting a 1.23% gain in the past 24 hours.
origin »Ripple (XRP) на Currencies.ru
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