XRP has kept stable in recent days, even as Bitcoin fell to $ 110,500 And has trouble reclaiming $ 112,700 in the last 24 hours. Unlike Bitcoin, XRP has avoided printing a new layer And bounced around $ 2.90 to $ 2.91 instead.
According to Crypto Analyst Captain Redbeard, the price action of XRP now breaks from a huge multi -year triangular pattern and can prepare for another parabolic leg.
XRP breaks from a multi -year triangle
According to the analysis of Captain Redbeard, which was posted for the first time The social media platform X, XRP has completed an outbreak of a triangle formation. This outbreak is very remarkable, given it is a movement above a multi -year consolidation structure that has been developing since the last bull cycle.
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As noted by Redbeard, “History does not repeat, but certainly the rhyme.” Speaking of history, this exact setup appeared in 2017 before XRP rose in 2018 to his previous all time of $ 3.4.
The 2-week candlestick price card that he shared shows XRP’s breakout of the triangle at the beginning of 2025 at the beginning of 2025. However, the price action of XRP in recent months has consolidated the crypto with a parallel channel just above the 1.0 FIB extension level, just as it did in the middle of 2017 after a similar extension.
The consolidation pattern Now comes to an end, And if history repeats itself, XRP can be on its way for a similar outbreak. In terms of a price target, the graph of the analyst, a run projected to $ 27.
Golden Retrace support for $ 2.90
The analysis of Captain Redbeard records the macro outbreak and the target price can take years to manifest itself. However, from a shorter analysis of the 4-hour candlestick time shows that XRP Must retain above $ 2.90.
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This context is Based on an analysis by Casitrades from Crypto analyst. In contrast to Bitcoin, who has recently fallen to $ 110,000 and is struggling to win back a 0.236 FIB Retrace for $ 112,700, XRP has shown a greater resilience. The token has held around $ 2.90 to $ 2.91, which corresponds to the gold retracement level at 0.618 Fibonacci. In the Elliott golf theory this is the area where corrective Golf 2 usually finds support before a much stronger upward golf 3 starts.
Casitrades identified $ 3.12 as the immediate confirmation point to view. A clean break above this level would validate the bullish structure and set XRP on course for higher Fibonacci extensions. The projections emphasize $ 4.48 as the next important resistance zone and $ 5.40 as the ultimate Wave 3 race goal.
At the time of writing, XRP acts at $ 3.02, an increase of 3.4% in the last 24 hours.
Featured image of Pexels, Chart van TradingView.com