XRP Analysis: Potential Upside Movement Within Wyckoff Re-accumulation Schematic

Market strategist Steph (highlighted) the current crypto market condition in his latest XRP analysis.

XRP and the Wyckoff Re-accumulation Pattern

Analysis of the daily XRP chart confirms that the altcoin is trading within this pattern. According to Steph, this phase commenced in late 2024, spurred by the uptrend initiated by Donald Trump’s re-election.

This marked the initial phase of the Wyckoff Re-accumulation schematic, characterized by a strong uptrend. However, after reaching a seven-year high of $3.4 in mid-January, XRP entered a consolidation phase.

Steph suggests that, during this re-accumulation pattern, the market is essentially eliminating weaker holders before the next upward surge.

However, XRP faces possible disruption of this structure under current market pressures, especially if bearish momentum escalates.

Nevertheless, the market analyst expresses confidence in a likely upward breakout. He states, “As long as we don’t close any weekly candles or monthly candles below the support, I’m still extremely bullish and I’m focused on the upside.”

Anticipating the Breakout

The strategist further notes that XRP has progressed through its consolidation phase and might be nearing the end of the schematic.

The suggested timing for this breakout aligns with XRP breaching a daily candle close above $2.9, marking a definitive bullish confirmation.

Thus, a broader market rally is necessary for XRP to achieve this breakout. Currently, XRP trades at $2.31.