XRP's Recent Price Action Is Stirring Bullish Hopes

The analysis suggests that despite a slow recovery, XRP may be in a long-term accumulation phase, coiling for a significant future rally.

Recent price action in XRP is stirring bullish hopes among traders, as a veteran crypto analyst has identified a historical price pattern, or “fractal,” that mirrors the setup preceding XRP’s massive 2017 bull run.

The analysis comes from veteran trader Pepa, who is known for his early calls in previous XRP cycles. Currently trading near $2.24, XRP has been consolidating, but the underlying macro chart structure is now the focal point for long-term bulls.

Veteran Trader Pepa Predicts $XRP Next Target at $23.94 Based on This Historical Formation.

According to three-week projections by trader Pepa, XRP’s breakout above a long-standing descending trendline appears to follow a similar structure to its 2017 recovery. Back then, XRP shot up from $0.004 to reach highs above $3.4.

However, Pepa points out that a broader pattern has been forming since the 2018 peak, with the recent breakout in November 2024 pushing XRP back towards the $3.4 zone by January 2025.

Currently, XRP is trading at $2.24, suggesting that a continuation pattern might be unfolding, potentially leading to the 7 Fibonacci extension near $23.94.

This analysis aligns with the Fibonacci retracement levels shown on the chart.

RXD is currently consolidating between the 0.5 and 0.618 retracement levels, at $2.25–$2.65, zones which have historically seen major consolidation phases before significant price moves.

Breakouts above the 0.786 level, currently at $2.82, could catalyze further momentum toward the 1.618 at $3.01 and eventually to the 2.618–4.236 zones, with $4.57 being a shorter-term extreme before the long-shot $23.94.

On the other hand, the Relative Strength Index (RSI) stands at 45.5, a neutral reading indicating that XRP isn't overbought and has scope for more gains. Previous bullish runs have typically started from this mid-range RSI zone.

Meanwhile, the MACD shows the blue signal line set to cross above the orange slow line, a bullish signal, although still below the zero line. This suggests early signs of momentum building, but not yet a confirmed bullish reversal.

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