Key Takeaways
XRP broke out of the consolidation pattern it has traded within since February, giving traders and investors a good reason to buy the altcoin in expectation of further growth in the coming weeks.
XRP managed to break out of a long-term consolidation pattern and appeared to be flying higher on the price charts, at press time. The crypto market was highly bullish, with Bitcoin [BTC] in price discovery and hitting new all-time highs. The market’s altcoins followed suit too, managing to climb past a $1.25 trillion market cap.
This is an interesting development because this resistance has held the alts back since February 2025. Over the past two weeks, Bitcoin Dominance dropped from 65.9% to 64.46%. Together, these factors can help explain why large-cap altcoins like XRP have newfound bullish conviction since late June.
Reasons why XRP is primed for further gains
Source: Ali on X
In a post on X, crypto analyst Ali Martinez described a symmetrical triangle chart pattern for XRP, one that stretched back to 2018. According to the Chart Pattern Encyclopedia, a breakout from this pattern would measure a good chunk of the triangle apex. Using those figures, a price target of $16.17 can be expected for XRP.
This would bring the token’s market cap close to $1 trillion. Now, while this may be a figure that is far too optimistic, XRP could extend its gains toward the $6-level next.
Source: XRP/USDT on TradingView
The 1-day chart highlighted a range formation since March 2025. The $2.6 range high was breached recently. Moreover, the market structure on both the daily and weekly charts was bullish. The weekly swing points were marked in orange at $1.61 and $3.4. Its move past the $2.65 high (dotted orange) represented a bullish structure break on the 1-week timeframe.
On the daily timeframe, a move beyond $2.33 on 09 July confirmed a bullish structure. The CMF underlined strong capital inflows with a reading of +0.05 at the time of writing. The MACD also climbed higher to signal bullish momentum.
The breakout past $2.6 hinted that the $3 and $3.3-levels would be the next price targets. Meanwhile, a retest of the $2.6-level should see a bullish reaction from the price. Long-term investors can use this breakout to add XRP to their holdings and expect further gains in the coming months.
A $70 million inflow of XRP to the centralized exchange Coinbase may be a worrisome development though. Especially since it alluded to the potential for intense selling pressure in the coming days, something traders should be careful of.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion