Key takeaways:
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XRP is stuck within a narrowing range over the last three months.
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Analyst says XRP price consolidation could end as soon as next month.
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XRP/USD price must establish $2.40 as new support to resume the uptrend.
XRP price has been stuck within the $2.00 and $2.40 range over the last 90 days, with traders attempting to predict its next move.
The XRP/USD has traded relatively sideways since turning down from its multi-year high of $3.40 reached on Jan. 16, repeatedly making unsuccessful attempts to break out of the range.
Several analysts say the altcoin is poised for a massive breakout into double digits, but the question that remains is when XRP will break out of consolidation.
When will XRP price break out?
The XRP/USD pair could be preparing for a major upward move this summer, according to popular crypto analyst Egrag Crypto.
“XRP breakout is coming,” the analyst said in a June 24 post on X, adding that its price action had formed a large symmetrical triangle in the monthly time frame, predicting a big breakout over the next few months.
Egrag Crypto explained that these types of setups usually resolve between 75% and 95% of the pattern’s total duration.
In this case, XRP has been consolidating within the symmetrical triangle for 334 days. Using historical behavior as a guide, EGRAG calculated two breakout timelines: 75% of 334 days is 251 days, pointing to early July 2025, and 95% of 334 days is 317 days, suggesting mid-September 2025.
“This suggests that the breakout could occur anytime between early July and mid-September 2025, so stay alert!”
Egrag Crypto’s chart also includes key Fibonacci extension levels centered around the symmetrical triangle, setting a $8-$27 XRP price target.
A growing number of analysts believe the next move for XRP is upward, as bears fail to establish new lows.
Related: Who is Arthur Britto, the Ripple ‘ghost’ who just broke 14 years of silence?
Crypto YouTuber DustyBC Crypto said, “XRP under $2 is incredibly cheap. Bookmark this post, look back in 6 months,” suggesting that the token could be trading at a significantly higher price over the next half a year.
Mikybull Crypto has forecasted that XRP could soon break out of a symmetrical triangle structure to stage a rally similar to the one seen in 2017, targeting $14.
XRP bulls must reclaim $2.40
XRP’s potential to move higher is part of a recovery that saw the price rally 15% to a high of $2.21 on June 24 from its local low at $1.91.
XRP bulls are focused on breaking the resistance between $2.22 (the 100-day simple moving average (SMA)) and $2.40 (the 200-day SMA).
A close above this level will pave the way for a return to $3.00 or the seven-year high above $3.40.
As Cointelegraph reported, a clear breakout above $2.22 (the 100-day SMA) will invalidate a bearish structure threatening XRP price drop to $1.18.
Popular XRP analyst CasiTrades said that although the “momentum is back,” the price must break above two major resistance levels: $2.25 (the .382 macro retracement and then $2.69 (the .236 retracement).
“These are important macro levels and clearing them with strength would confirm that this isn’t just a local reaction, but a true trend shift!”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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