XRP has showed a remarkable increase price action over the past 48 hours as the price of XRP rose from below $2 at the start of the year, but now it is trading near the $2.40 region. Interestingly enough, this recent push is more than just a jump, especially as a longer-term chart structure shows comparisons to XRP’s behavior prior to the 2017 breakout.
How the structure of 2017 unfolded before the wave
Technical analysis of The current price action of XRP on the weekly candlestick time chart shows that the cryptocurrency is currently showing similar price action to that seen in 2017 on the 3-day chart.
In that earlier period, price action proceeded through a well-defined series of five waves, characterized by alternating phases of decline and recovery. Waves one, three and five each pushed the price down with corrective pressure, while waves two and four produced temporary upticks that eased selling pressure but failed to create a lasting trend reversal.
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The last phase of that series was especially important. During the fifth wave, XRP’s decline slowed and compressed into a falling wedge formation. The price of
From that point on, downward pressure gradually subsided, volatility decreased and selling momentum waned. When XRP finally broke out of that compression, it quickly reclaimed the $0.008 zone and broke through $0.02, resulting in the start of a rally that ultimately produced gains well over 1,000%.
XRP price chart. Source: @Steph_iscrypto
According to Steph’s analysis, XRP’s recent price action follows a remarkably similar rhythm. After peaking around $3.40 in mid-2025, the cryptocurrency entered a corrective phase, driving its price steadily lower and creating a falling wedge structure.
That decline was supported by $1.74, where selling pressure subsided and price action stopped making aggressive new lows. Now it appears that XRP is breaking out of the falling wedge and consolidating its price action above $2 again.
XRP price action in focus
Now that’s XRP back to trading above $2 and above the falling wedge the next step is to see how the price behaves from here. Of course, the most bullish course of action is for XRP to repeat a 1,000% rally, which would place the price target around $22.
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In terms of how this turns out, there are resistance levels to pay attention to. The $2.30 area is an early test, followed by $2.50 and $2.80, previous consolidation levels where XRP slowed during its push to record highs in 2025.
After that, the $3.10 price level and the previous 2018 high at $3.40 are the key resistances to be recovered. On the other hand, continued weakness below $1.90, and especially a move back towards $1.74, would question the idea that the correction phase has fully played out.
Featured image created with Dall.E, chart from Tradingview.com