XRP and XLM are expected to experience a significant surge in value, potentially reaching $13, due to the formation of a symmetrical triangle pattern reminiscent of the one seen in 2017-2018.
An analyst predicts that XRP has the potential to hit $38, although they believe this may not happen in the current market cycle.
Recently, Ripple’s XRP broke a crucial support level and fell below $0.6 amid a general market pullback. However, there are signs of resistance from bulls as the price remains around this critical zone. In the past 24 hours, the price of XRP has dropped by 2%, and over the past seven days, it has declined by 7%, currently trading at $0.599. Interestingly, the trading volume has increased by 75.9% in the past 24 hours, reaching a value of $1.9 billion.
A technical analyst known as Charting Guy believes that XRP is poised for a bullish reversal that could result in a 2000% increase in price. Currently, the market sentiment for XRP is bearish, with a neutral Trend Mean of 5. Over the past six years, XRP, along with Stellar Lumens (XLM), has been in a consolidation phase and has not experienced significant bullish rallies. However, Charting Guy argues that the technical charts of XRP and XLM suggest a different story.
Both XRP and XLM are forming symmetrical triangle patterns, characterized by higher lows and lower highs, which Charting Guy believes are the largest formations he has ever seen. Interestingly, the apexes of these patterns are relatively close together, leading him to predict that XRP could reach $10 to $13, with XLM having a similar price target.
Another analyst, Moonshilla, also confirms the bullish outlook for XRP, comparing the current pattern formation to that of 2017-2018. Historical data shows that XRP has formed several symmetrical triangles, with the earliest one occurring in 2014. In 2017, XRP successfully broke out of the triangle, resulting in a massive price surge of 65,931% to its all-time high of above $3 in January 2018.
Although XRP attempted a breakout in 2021 when the price reached $1.96, similar to what happened in December 2024, it ultimately failed. However, analysts believe that XRP is now close to the apex of the triangle and could trigger another breakout similar to the 2017-2018 cycle.
In conclusion, XRP and XLM are showing signs of a potential surge in value, with analysts predicting significant price increases based on the formation of symmetrical triangle patterns. While there is some uncertainty about the timing and extent of these surges, the overall outlook for XRP appears bullish.