The price of XRP has been showing signs of consolidation in recent days and fluctuating between $2.30 and $2.50. The entire crypto market has remained relatively stable and XRP has managed to maintain his balance above $2.20.
Despite the slow momentum, a technical analysis shared by crypto analyst known as ChartNerd on The analysis is supported by a graph showing multiple confluences lining up in favor of such a large-scale movement.
XRP Technical Analysis Points to Recovery
According to ChartNerd’s chart, XRP has now completed a symmetrical triangle breakout pattern that has been forming for several years. This breakout comes above a multi-year ascending support line dating back to 2017. The chart also shows a major resistance block that previously capped the price of XRP during previous bull runs in 2017 and 2021.
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XRP broke through this resistance block months ago, but recently retested it during last week’s flash crash. Its bounce off this resistance block reinforces the idea that XRP is about to bounce massively. The breakout of this long-term consolidation zone, combined with the multi-year ascending trend line, provides the technical basis for a possible move towards much higher price objectives.
Another important confirmation that occurred during the sudden accident It was the successful retest of the 3-month EMA 10. This new test serves as a validation point for the recent breakout, showing that XRP maintains its structure on higher time frames. Furthermore, the analysis shows that XRP has recovered the upper regression line of the Gaussian channel, which represents a long-term trend momentum.
This alignment of the EMA retest with the Gaussian channel suggests that strong bullish momentum is starting to build. ChartNerd refers to this convergence of multiple indicators as a “confluence zone.”
Fibonacci Extension Targets from $8 to $27
The analysis concludes with a clearly defined Fibonacci extension roadmap outlining the upcoming XRP price targets. ChartNerd Fibonacci Levels place the first major target at $8.47, corresponding to the 1.272 extension, followed by $13.78 at the 1.414 level, and finally the 1.618 extension at $27.70.
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This sequence involves a complete technique. replication of the 2017 XRP bull runscaled to its current breakout structure. Back then, XRP reached three Fibonacci extensions from the previous low after breaking through a similar resistance block.
If these projections materialize, XRP could see its most significant rally in years. The move towards $27 could develop in two ways: either through a strong near-vertical rise similar to the explosive rally of 2017 or through a series of measured advances highlighted by corrections at each resistance level. However, both scenarios have the same bullish structure.
At the time of writing, XRP is trading at $2.44, up 1.4% in the last 24 hours.
Featured image from iStock, chart from Tradingview.com
