A crypto analyst known as Blacksea has revealed that the XRP price has formed a major bullish price pattern that appears to have gone largely unnoticed by the broader market. The expert noted that the last time this setup surfaced, XRP recovered by triple-digit percentages and then reached a new price level.
If history were to repeat itself, the cryptocurrency could be on track for a similar parabolic price increase this cycle. Such a move could end completely XRP’s continued downward trend and position it firmly in a renewed bullish phase.
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XRP is printing the same pattern that caused the 2024 rally
On June 6, Black Sea noted that XRP has formed the same again falling wedge pattern it was previously printed in 2024. At the time, the cryptocurrency was trading around $0.5 before the structure fully developed, eventually leading to a massive 600% upside.
Looking back at the 2024 chart, XRP traded tightly within the falling wedge, with repeated swings and compression between the upper and lower trendlines. As price action fluctuated sharply, XRP eventually briefly broke below the lower boundary of the wedge pattern. That false breakdown marked a turning point, as the momentum quickly shifted and the price moved aggressively higher. This eventually led to a rise of over $1.5, producing the historic rally.
According to Blacksea, XRP could be preparing for the same parabolic price rise. The cryptocurrency is currently trading within its wedge with repeated price drops and compressionalthough it has not yet broken below the lower bound. If a disruption occurs, it may reflect and serve as 2024 behavior a final shakeout before a strong turnaround.
Blacksea expects such a move could boost the economy new recovery for XRPlikely paving the way for a renewed bullish trend and possible attempts to reach new all-time highs. Ahead of this expected rally, the analyst urges traders and investors to position early and manage risk carefully to protect against sharp downside volatility if the pattern does not go as expected.
Analyst Predicts XRP Price Drop Before Explosive Rally
In a separate post, crypto analyst Celal Kucuker says shared a bullish outlook for XRP, but warned that this move could only unfold after another major price correction. He pointed a Cup & Handle pattern currently forming on the XRP chart, predicting a potential explosive rally towards the 1,618 Fibonacci Extension level above $14.
Kucuker explained that before XRP can achieve this ambitious goal, its price is expected to rise continue the current downward trendand could potentially fall sharply towards $0.9. The accompanying chart shows that further weakness in this region could undo the situation The bullish structure of XRP and open the door to a deeper decline near $0.48.
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However, Kucuker’s chart also suggests that if the price holds the $0.95 support and shows a strong recovery, the next upside target would likely be around $1.5. From there, the analyst expects a jump to $3.66, which represents an increase of about 282% from $0.95. After that, XRP could accelerate towards the analyst’s ultimate target around $14.1, a level that would mark a staggering 1.378% rally from the former $0.95 support area.
Featured image from Pexels, chart from TradingView