Crypto markets are turning their focus to XRP after a prominent analyst identified a technical formation that could precede another significant rally. According to Steph Is Crypto, a well-followed figure in the digital asset space, XRP is displaying a pattern similar to one that led to a sharp breakout in late 2024.
Back then, XRP consolidated for months in a symmetrical triangle between $0.50 and $0.60. The market continued without change until changes in politics and regulations prompted a significant response. Gary Gensler resigned as SEC Chair after Donald Trump’s election, meaning that the credit industry would now likely be supported more. XRP went up more than 500 percent and peaked at $3.39 during the market rally, which affected the entire crypto sector.
Steph has pointed out a second symmetrical triangle forming on the 3-day Heikin Ashi chart. The current price is ranging between support at $1.90 and resistance near $2.70. At press time, XRP trades at around $2.18, just under a potential breakout level.
Source: STEPH IS CRYPTO
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Whale Activity and Market Structure Boost Investor Confidence
Analysts view the structural similarities between the two setups as a signal of a possible repeat move. Based on previous performance, a comparable breakout from this consolidation could send XRP as high as $13.08. Some market observers have projected targets as high as $15 before the current cycle ends.
Additionally, whale activity is reinforcing the bullish narrative, with a recent $1.08 million long position placed using 12x leverage at an entry of $2.1336. This suggests that those with the biggest XRP holdings feel confident that the asset is about to move higher.
Market sentiment is brightening as key data and prices are moving in a similar direction. Those trading XRP are waiting to see if the price breaks through resistance, as this could confirm the start of a new major rally.
With old habits resurfacing and significant investments flooding the market, XRP appears ready to make its breakthrough. Analysts and investors expect that the market will see another significant bull run in the coming weeks.
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