Is XRP on the Verge of a Massive Breakout?

XRP has been struggling to gain momentum, following the broader decline in the cryptocurrency market after the recent White House Crypto Summit.

While price action remains volatile, analysts believe the token still holds significant long-term potential. Some experts suggest that XRP could replicate its historic bull run from 2017-2018, when it skyrocketed over 700%. If a similar trend unfolds, the asset could see a dramatic price increase, possibly reaching double-digit levels.

EGRAG CRYPTO, a well-known market analyst, has outlined two possible price targets for XRP, drawing insights from historical breakout patterns. According to his analysis, the first potential milestone is $9.7, which emerges from a technical formation indicating a possible bullish move. Rather than waiting for a perfect peak, he suggests traders secure profits incrementally around $8, $9, and $10.

A more ambitious scenario places XRP at $27, mirroring its remarkable ascent in 2017. At that time, the token surged by 718% from a breakout zone between $0.35 and $0.39. If a comparable percentage increase is applied to XRP’s local high of $3.4, the result is a projected price of $27 per coin.

READ MORE:

David Sacks Slams U.S. Bitcoin Sales, Says Taxpayers Lost Billions

At the same time, significant activity among XRP whales has caught the attention of market watchers. Analyst Ali Martinez has observed a steady rise in large-scale transactions over the past three weeks, signaling heightened interest from institutional players or high-net-worth investors.

While an increase in whale activity can sometimes indicate selling pressure, the overall market sentiment suggests a growing number of investors are positioning themselves in anticipation of future price movements. Recently, nearly $6 billion in XRP was transferred, fueling speculation about potential market shifts.

Beyond price speculation, developments surrounding Ripple’s ongoing legal battle with the SEC continue to influence sentiment. Additionally, discussions about a potential XRP exchange-traded fund (ETF) in the U.S. have further bolstered optimism. Meanwhile, XRP has outperformed both Bitcoin and Ethereum in recent weeks, reinforcing confidence in the asset’s strength among traders.