A Bullish Breakout Years in the Making
XRP may be on the verge of a major price surge, according to several crypto analysts. After hovering below $2 for weeks, the asset has recovered to $2.19, down only 0.26% on the day but showing a 12.7% weekly gain. This recent strength aligns with broader market sentiment and has reignited optimism around XRP’s potential.
According to market analyst BA_Investments, XRP’s latest price activity confirms a critical breakout from a long-standing range between $0.12 and $1.97 - a level that held XRP in consolidation since 2018. The breakout, which occurred in November 2024, has remained intact, supported by a new base between $1.60 and $1.97. The analyst emphasized:
XRP Trading Price | Source: TradingView.com
This new support suggests that market sentiment has shifted decisively, and investors are preparing for higher targets - possibly a retest of XRP’s all-time high, with $4.10 as the next key level.
Legal Clouds Still Hover - But Bulls Remain Focused
While XRP's technical outlook appears strong, Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) remains a wildcard. The lawsuit, which has loomed over the token since 2020, continues to generate uncertainty, especially after recent legal setbacks.
Ripple executives have acknowledged the regulatory overhang, but CEO Brad Garlinghouse recently reiterated the company’s intent to resolve the matter “once and for all.” Despite the court drama, analysts argue that the long-term technical structure remains intact, with upside potential if legal clarity is achieved.
Symmetrical Triangle Hints at Explosive Move
Backing the bullish thesis, popular analyst Captain Faibik shared his own take on XRP’s setup, identifying a symmetrical triangle forming on the daily chart. These patterns - formed by converging trendlines — typically indicate massive breakouts following periods of consolidation.
According to Faibik:
He pegged a mid-term target of $4.60, assuming the pattern breaks to the upside. His analysis also noted a build-up in accumulation activity, suggesting investors are preparing for a rally in Q3. The tightening price action between ascending support and descending resistance adds to the anticipation.
Market Structure Supports New Price Discovery
Technically, the breakout from the multi-year range combined with the strong base above $1.97 points to an emerging trend of bullish continuation. The projected $4.10 target is based on historical resistance and prior rally patterns, with the potential to unlock price discovery territory should XRP breach it convincingly.
With the legal backdrop nearing resolution, investor sentiment improving, and market-wide momentum shifting upward, XRP could be setting up for its strongest bull run in years — assuming it can break the $2.20 barrier and hold its new support zone.
