Technical analysts are observing that XRP’s current price behavior exhibits striking similarities to its historical 2017 fractal pattern, potentially signaling a significant bullish move with price targets ranging from $3.70 to a possible $10.
A symmetrical triangle formation alongside a prolonged 200-day consolidation phase further supports the potential for an upward breakout. Analysis of these patterns suggests the possibility of a 75% upside move should bullish momentum build.
Long-term weekly charts indicate a fractal pattern repetitious of the extended consolidation period observed between 2014 and 2017. Should history repeat, this could pave the way for a major rally pushing XRP towards the $8 to $10 range.
However, significant bearish risks remain. Analysts warn of a potential inverse cup-and-handle pattern forming, which could trigger a correction down to the $1.33 support level if key structures fail to hold.
While optimism is partly fueled by ongoing regulatory developments, notably movements related to XRP ETF proposal reviews, traders are urged to exercise caution due to conflicting technical signals. The market outlook for XRP remains tightly balanced between high potential upside and notable downside risks.