XRP Breakout Mirrors 2017 Pattern as $10 Target Emerges

XRP breakout has ignited renewed excitement in the crypto markets, as Ripple’s native token follows a familiar bullish trajectory last seen in 2017. Analysts and traders alike are eyeing major price milestones with increasing interest, driven by strong momentum and significant whale activity.

At the time of writing, XRP is trading at $2.58, reflecting a 6.56% gain in the past 24 hours and a 15.15% rise over the week. This surge in value is accompanied by an increase in trading volume, now standing at $5.87 billion — up more than 28% from the previous day. These figures indicate a substantial uptick in trading activity and bullish sentiment around the token.

Technical analysis highlights that XRP has successfully broken out of a symmetrical triangle pattern that has been forming since 2018. This long-term consolidation pattern mirrors the price structure the asset displayed in 2017, where an initial breakout was followed by consolidation and then continued upward movement. Based on this historical symmetry, a second breakout wave could be underway if the trend continues to unfold.

Following its emergence from the macro triangle, XRP shot past several key resistance levels, maintaining a solid position above $2.54. This resilience underlines the strength behind the recent price action. Moreover, the asset’s Relative Strength Index (RSI) has pushed into overbought territory — a level not witnessed since 2017 — underscoring the prevailing buying pressure in the market.

Whale Moves Fuel Market Speculation

Adding fuel to the already bullish outlook is a noticeable increase in whale transactions. Recently, tracking service Whale Alert detected the transfer of 40 million XRP, valued at over $101 million, between unidentified wallets. Although the motive behind this movement remains unclear, such large-scale transactions often precede or coincide with major price shifts.

Further amplifying this trend, another significant chunk — approximately 25.49 million XRP — was transferred from a private wallet to Coinbase, according to CryptoPotato’s report. These transfers suggest that institutional or large holders may be positioning themselves ahead of potential further movement in the token’s value, adding another layer of intrigue to the current price trajectory.

Analyst Predicts Possible Move Toward $9.63

Crypto market analyst Javon Marks has projected a major rally in XRP’s future, suggesting a potential target of $9.63 based on fractal patterns and Fibonacci extension levels. This would represent a gain of over 250% from current levels, should such momentum continue. Marks emphasized that XRP’s historical behavior supports the likelihood of this next upward move, with the potential to even exceed the projected value.

In his analysis, Marks highlighted, “XRP’s history still points to the next leg up leading into $9.631+, if not well beyond.” His outlook boosts the optimism that has been growing around XRP after its latest breakout.

Price consolidation above $2 adds further technical justification for continued bullish sentiment. Many chart watchers believe this phase could establish a new support base that sets the token up for another surge, reflecting the structural dynamics observed during its last major bull run.

Related: XRP Price: $12M Max Pain for Bears

Overall, XRP appears to be echoing its historic 2017 breakout in both form and strength. With institutional moves in the mix and technical indicators aligning, market participants are increasingly confident that a significant uptrend could be unfolding — with $10 now becoming a realistic target on the horizon.