XRP Price Targets $9.6 as This Historic Pattern Flashes

• XRP has broken out of a six-year symmetrical triangle, surging to $2.58 with strong technical momentum.
• Large whale transactions and overbought RSI levels support the current rally.
• Analysts are targeting $9.6 and higher, with XRP’s long-term structure remaining bullish as long as it holds above $2.

Ripple’s XRP is showing impressive momentum as it trades firmly above its 2017 highs, sparking renewed optimism among traders and analysts. At the time of writing, XRP was valued at $2.59, marking a 6.03% increase over the past 24 hours and a weekly gain of 16.86%.

Daily trading volume has surged to $7.48 billion, up more than 28% from the previous day, signaling increased market interest.

Breakout Confirms Long-Term Bullish Structure

Technical analysis shows that XRP has broken out of a symmetrical triangle that had been forming since 2018. This multi-year consolidation pattern now appears to be resolved to the upside, a move that mirrors XRP’s historic rally in late 2017.

In that cycle, the cryptocurrency surged dramatically after a period of tightening price action, and many observers believe a similar breakout could be unfolding.

The price has already climbed above several previous resistance zones and has held above $2.54, suggesting the breakout has structural integrity. Market analysts note that XRP’s resilience at these levels is reinforcing a strong bullish setup.

Also Read: Ripple May Soon Become an XRP Treasury Giant, Says Bitwise CEO

Adding to the technical case is the Relative Strength Index (RSI), which has entered overbought territory for the first time since 2017. Though often seen as a sign of potential correction, in breakout conditions, a high RSI can indicate continued buying strength and sustained upward momentum.

Large-Scale XRP Movements Raise Market Curiosity

Whale activity around XRP has also picked up. 36crypto recently flagged a 25.49 million XRP transfer, worth over $60 million at the time, from an unidentified wallet to the Coinbase exchange. Another notable transaction involved 214.1 million XRP, worth $500 million, moved from an old wallet to a newly activated address.

Even though the reason for the transfers is unknown, historical data have shown that such large transactions often come before a major price movement or institutional repositioning. It also underscores growing speculation surrounding XRP’s current breakout phase.

Analysts Eye Higher Targets as Momentum Builds

Several market analysts believe XRP’s latest rally may be far from over. Crypto chartist Javon Marks has identified $9.63 as a possible target based on fractal patterns and Fibonacci projections.

In a recent post, he stated that XRP is repeating a historical structure that could shoot the Ripple-backed coin to the $9.631 range.

The broader market environment may also support this trajectory. Anticipation around XRP exchange-traded fund (ETF) approvals in the U.S. is building, with several ETF applications awaiting SEC review in July. Any regulatory progress could act as a major catalyst for XRP, especially in the eyes of institutional investors.

Long-Term Structure Remains Intact

From a technical standpoint, XRP remains in a bullish posture as long as it trades above the $2 mark. Analysts emphasize that maintaining this level could set the stage for another rally leg, potentially propelling the token toward new multi-year highs.

The broader crypto market also seems to be benefiting from increased investor confidence, with Bitcoin and Ethereum holding strong, contributing to the positive momentum surrounding altcoins like XRP.

With XRP now breaking free from a six-year consolidation pattern, traders and long-term holders are watching closely. If history repeats itself, the current setup could be just the beginning of a larger move that redefines XRP’s place in the digital asset landscape.

Also Read: Analyst Says July-August Will be Explosive for XRP, Shares New Targets to Watch Out For

The post XRP Price Targets $9.6 as This Historic Pattern Flashes appeared first on 36Crypto.