XRP investors are bracing for a potential breakout after a leading cryptocurrency analyst shared a detailed technical analysis. According to Amonyx, XRP’s current market structure mirrors historical trends preceding significant rallies.
The analyst posted a chart on X that showed a triangular consolidation pattern similar to the one that formed before XRP’s previous explosive breakout. He pointed out a critical accumulation zone where price compression led to a sharp upward movement.
Amonyx noted that XRP trading under $20 should be considered an opportunity. According to his analysis, XRP’s current trading price of $2.32 indicates that the asset remains below its actual market potential.
Source: @amonbuy
The chart highlighted major support and resistance levels while also drawing attention to a target zone above $20. Moreover, his analysis points to $34.7850 as a future target for the Ripple-backed coin.
Also Read: Here’s Why XRP Price is Up All of a Sudden
Chart Analysis Points to Renewed Optimism for XRP
Amonyx further illustrated how XRP suffered a 90% drop following its last central peak. This cyclical behavior, he explained, could signal that XRP is on the verge of entering a new growth phase.
The analyst extended his market projection to 2028 and beyond, implying that while a breakout might occur soon, the larger price appreciation could take years to develop fully. His analysis suggested that investors should maintain a long-term view despite short-term volatility.
Traders view the tightening price movement within the triangular patterns as a signal of a pivotal market shift. According to previous market behavior, XRP demonstrates indicators that it might break out of its lengthy consolidation phase.
Amonyx’s market observations generated new debates among XRP community members who assess the potential for a substantial retail price rally. Traders now rely on his technical analysis to support their belief that XRP is preparing for another bullish market cycle.
Historical market analysis combined with current price data indicates that XRP could be set for a powerful upcoming market movement. Market participants closely monitor potential indications that a breakout situation may be materializing.
Amonyx’s latest analysis has heightened expectations of a major XRP breakout. As historical patterns align again, confidence in XRP’s future trajectory continues to grow.
Also Read: Ripple CEO is Making Up for Lost Time in XRP-SEC Lawsuit, Says Lawyer on $1.2 Billion Deal
