XRP and XLM are expected to experience a significant surge in value, potentially reaching $13, following the formation of a symmetrical triangle pattern similar to the one observed in 2017-2018.
While the analyst believes that XRP has the potential to reach $38, they do not anticipate this happening in the current market cycle.
In the past few hours, XRP has fallen below a crucial support level, trading below $0.6 due to a general market pullback. However, there is resistance from the bulls as the price remains around this critical zone. Over the past 24 hours, XRP has seen a 2% decline, with a seven-day decrease of 7%, currently trading at $0.599. Interestingly, its 24-hour trading volume has increased by 75.9%, bringing the total value to $1.9 billion.
According to the technical analyst Charting Guy, XRP is on the verge of a significant bullish reversal that could lead to a 2000% price increase. 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 consolidating and has not experienced a sustained bullish rally. However, Charting Guy believes that the technical charts for 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, which he considers to be the largest formations he has encountered. Interestingly, the apexes of these patterns are relatively close. Based on this, he predicts that XRP could reach $10 to $13, and XLM’s price target would be similar.
Another analyst, Moonshilla, also confirms the bullish outlook for XRP, comparing the current pattern formation to that of 2017-2018. In a chart accompanying the post, the pattern appears to exist within a three-week timeframe.
Historical data shows that XRP has formed multiple symmetrical triangles, with one of the earliest formations occurring in 2014. During that time, XRP attempted a breakout from the triangle, resulting in a rally that took the price to $0.0280 in December 2014. However, the breakout was unsuccessful, leading to a price correction. In 2017, XRP successfully broke out of the triangle after reaching its apex in March, resulting in a 65,931% price surge to its all-time high of above $3 in January 2018.
Analysts explain that the second triangle has persisted until now, with a failed breakout attempt in 2021 when the price surged to $1.96, similar to what happened in December 2024. Based on market data, XRP is now approaching the apex of the triangle and could trigger another breakout similar to the 2017-2018 cycle.