Recent analysis indicates that XRP may be on the brink of a significant price movement, reminiscent of previous cycles witnessed in 2017 and 2018. Industry analysts are noting similar patterns and potential breakout signals as the token continues to show signs of strength in the current market.
Historically, XRP experienced a notable breakout starting in March 2017, rising from approximately $0.0055 to around $0.40 by May 2017. Following this initial surge, the token entered a period of consolidation where it traded laterally for about six months. This was followed by an explosive increase to $3.31 in January 2018. An examination of the monthly RSI (Relative Strength Index) during these periods shows critical insights: the RSI peaked at nearly 95 during the first rally, dipped to around 68 during re-accumulation, and then surged above 90 in the subsequent leg of the rally. Analysts suggest that current RSI levels and movement patterns indicate that XRP has room for further upward momentum.
XRP’s most recent major breakout occurred in November 2024, where the price surged from approximately $0.50 to $3.40 by January 2025. Similar to the earlier cycle, the token has since undergone a consolidation phase lasting about six months, which many observers refer to as a re-accumulation phase. Analysts from the community, including those from EtherNasyonal, believe that XRP is now positioned for another upward movement, citing a current 1-month RSI near 68 as signaling a cooling before another potential spike above 90.
There is increasing speculation in the community about a possible price target of $10 for XRP. Supporters express optimism, stating, “XRP is not dead; it’s loading,” indicating a belief that a major price rally is imminent.
On the on-chain front, data gathered by XPMarket co-founder Dr. Artur Kirjakulov reveals intriguing wallet behavior. Approximately 538,586 XRPL wallets each hold 20 XRP, a figure that corresponds to historical minimum reserve levels established from 2013 to 2021. At the current price of around $3.1, this amount translates to about $62 per wallet. Notably, these wallets represent roughly 7.64% of all XRPL wallets, while the ledger currently reports a total of 7,048,872 addresses. Approximately 11 million XRP appears to be sitting idle in these wallets, highlighting a potential constrained supply scenario should more tokens become inactive.
Supporters of XRP, including figures like Ripple Bull Winkle, emphasize the importance of regulatory clarity, ongoing infrastructure development by Ripple, and the anticipated arrival of XRP Exchange-Traded Funds (ETFs) as drivers likely to influence the token’s price positively in the near future.
