Analysts expect XRP to begin printing heavy bullish candlesticks in the coming weeks, citing a recurring price fractal on higher timeframes.
Currently, XRP trades at $1.41, up 3.4% in the past seven days. Its price has continued to hold key support levels, and market analysts expect a breakout from the current consolidation phase to new heights.
Key Points
- XRP is showing bullish signs, specifically on the 3-week chart.
- The RSI line has crossed above the RSI-based MA line, signaling that strength is beginning to return to the market.
- Chart data shows a recurring price fractal on higher timeframes, which usually ends up in a new all-time high for XRP.
- Each fractal has four stages, highlighting different price behaviors.
- The real rally will begin once XRP breaks above the all-time high resistance around $3.35.
XRP Price Expansion Next
One analyst fronting this XRP price expansion narrative is CW. In a recent price outlook, the market commentator highlighted that the altcoin is showing bullish signs, specifically on the 3-week chart.
After three consecutive bearish candles on this timeframe, XRP printed its first green candle in late March. So far, it is consolidating on that and looks poised for a second bullish close with the current candle.
Meanwhile, a bullish RSI crossover is supporting this momentum. The RSI line has crossed above the RSI-based MA line, signaling that strength is beginning to return to the market.
The analyst not only expects XRP to sustain the current run and print its second consecutive green candle on the 3-week chart, but he also expects an even bigger bullish move in the next candle. Backing his belief is the view that XRP has entered a phase that has historically spurred massive price expansion.
XRP Price Fractal Repeating
An accompanying chart shows a recurring price fractal on higher timeframes. In each fractal, the coin enters a symmetrical triangle after peaking in the previous cycle, consolidates within it in phases, and then breaks out to new all-time highs.
The first instance played out between 2013 and 2017, taking XRP from around $0.0059 to $0.439. Currently, the second fractal is in the final stages, following the exact same pattern as the first.
Notably, each fractal has four stages, each highlighting different price behaviors. Phase 1 is the late stage of an uptrend, where XRP makes its final northward push before peaking. During this phase in the current fractal, XRP rose from $0.43 to its 2018 peak price of $3.35.
Phase 2 is a corrective post-peak period in which XRP pulls back to test the support of a broader symmetrical triangle. Meanwhile, Phase 3 is a consolidation phase. Volatility declines in this stage, with the coin building momentum for a subsequent breakout.
A symmetrical triangle breakout usually occurs in Phase 4, followed by a price expansion to new all-time highs. Prices are currently in this phase, with XRP breaking out in November 2024 and then pulling back to retest the breakout.
The Real Breakout Starts After the ATH Breakout
According to CW, the real rally will begin once XRP breaks above the all-time high resistance around $3.35. A similar scenario played out in the first fractal in 2017, with XRP printing large bullish candlesticks afterward.
From the current price, XRP would need to increase by 137% to reach this resistance. The chart shows that breaking above sets the stage for a measured move to $20, a staggering 1,318% surge from here. This aligns with an analysis from Hov, who sees the altcoin rallying to $15-$20, citing an Elliott Wave pattern.
