Analyst forecasts XRP surge after a 400‑day consolidation period

crypthub

about 19 hours ago

Current Consolidation

XRP has been trading sideways for more than 400 days within a clear weekly range after a sharp 2024 breakout. Analysts note that the price repeatedly rebounds from the upper and lower edges of this zone. This prolonged pause is viewed as a preparation phase for a major move. The consensus is that a breakout could occur in the coming weeks.

Contrast with 2017 Cycle

The 2017 rally featured a rapid vertical rise followed by an equally swift decline, described as a “straight‑line pump and dump.” Today’s pattern is markedly different, showing steady acceptance and reduced volatility. Weekly candles rotate inside the range rather than breaking it, and XRP has reached a new all‑time high while staying above pre‑breakout levels.

Key Price Levels

The range’s upper ceiling sits near $3.30, tested multiple times, while the lower support is around $1.80, consistently defended by buyers. Mid‑range pricing is close to $2.20, indicating no clear dominance from either side. The longer this balance persists, the greater the pressure for a decisive shift.

Future Outlook

Nearly 58 weekly candles have been confined to the same structure, allowing supply to be absorbed and long‑term positions to form. A close above the $3.30 ceiling would signal a structural change and confirm continuation of the 2024 breakout. Until that occurs, price movements are likely to remain bounded by the established range.