XRP and XLM are expected to experience a significant surge, potentially reaching $13, due to the formation of a symmetrical triangle reminiscent of 2017-2018. However, the analyst believes that while XRP has the potential to hit $38, it is unlikely to happen in the current cycle.
Despite a recent market pullback, XRP has fallen below a crucial support level of $0.6. Nevertheless, bulls are putting up a fight as the price remains around this critical zone. Over the past 24 hours, XRP’s price has dropped by 2%, and in the past seven days, it has seen a decline of 7%, now trading at $0.599. Interestingly, its trading volume has increased by 75.9% in the past 24 hours, reaching a value of $1.9 billion.
According to technical analyst Charting Guy, XRP is poised for a bullish reversal that could potentially result in a 2000% price increase. The current market sentiment for XRP is bearish, with a neutral Trend Mean of 5. Despite being in a consolidation phase for the past six years alongside Stellar Lumens (XLM), Charting Guy believes that the technical charts of both XRP and XLM tell a different story.
Charting Guy reveals that both XRP and XLM are forming symmetrical triangle patterns with higher lows and lower highs. These formations are the largest he has encountered, and their apexes are remarkably close. He predicts that XRP could reach $10 to $13, and the price target for XLM would be similar.
Another analyst, Moonshilla, confirms the bullish outlook for XRP, comparing the current pattern formation to that of 2017-2018. Historical data shows that XRP has formed multiple symmetrical triangles, with the earliest formation occurring in 2014. While there have been unsuccessful breakout attempts in the past, XRP successfully broke out of the triangle in 2017, leading to a significant price surge of 65,931% to its all-time high above $3 in January 2018.
The second triangle has persisted until now, and a failed breakout attempt occurred in 2021 when the price reached $1.96, similar to December 2024. However, analysts believe that XRP is now near the apex of the triangle and could trigger another breakout similar to the cycle seen in 2017-2018.