- XRP’s breakout above the Bull Market Support Band signals a potential for significant price rallies ahead.
- XRP could target $8–$31, depending on whether the conservative or aggressive breakout scenarios play out.
- Strong buying pressure and Fibonacci resistance levels suggest XRP is poised for continued bullish momentum in 2025.
XRP closes its first-ever six-month candle above the Bull Market Support Band (BMSB). This breakout is a development for XRP, marking a pivotal moment in its long-term price movement. Currently, the lower edge of the BMSB is positioned at $2.
According to analyst Egrag Crypto, it seems highly unlikely that XRP will dip below this level, barring any unforeseen global events like a cybersecurity attack or pandemic. Under normal market conditions, XRP looks poised for a strong rally.
Bullish Scenarios and Potential Price Targets
A symmetrical triangle pattern is forming on XRP’s chart, signaling an imminent breakout. Based on this structure, two possible price targets emerge. The conservative target, based on the midpoint of the triangle, suggests a price range of $8–$13.
This target is attainable and supported by solid mathematical and technical analysis. Alternatively, a more aggressive forecast, considering the full height of the triangle, projects XRP prices soaring to $27–$31. These targets highlight the immense potential for XRP in the coming months.
Moreover, key Fibonacci extension levels further support these optimistic predictions. The data places resistance levels at $2.8425, aligning with the 0.786 Fibonacci retracement. XRP has already surpassed this resistance, signaling strong bullish momentum. The next critical level is $3.3170, where the price is testing its strength. If the breakout holds, XRP could soon target the Fibonacci extension level at $11.59, followed by $17.48, and ultimately $31.54.
Momentum Building for XRP’s Bullish Journey
XRP’s current price surge, which has already seen a 48.26% increase, is backed by strong buying pressure. The blue moving average line also indicates a steady incline during bullish phases. Hence, this price movement aligns with previous breakout patterns, suggesting a similar bullish trend to past surges, such as in 2017. If history repeats itself, XRP could experience substantial upward momentum in the upcoming months.
