XRP traded relatively strongly for most of the week, with bulls taking control following a lackluster performance last week.
Notably, with Bitcoin back in price discovery mode, XRP seems to be emerging from a prolonged period of stagnation. For nearly seven years, the asset traded within a consolidation triangle pattern, but it broke out earlier in December, signaling a shift in momentum.
According to CoinMarketCap data, XRP, the third-largest cryptocurrency by market cap, has surged by approximately 146% over the past month. Its market capitalization has risen by nearly $60 billion, reaching around $160 billion this month alone, as investors have increasingly flocked to the asset.
This surge is further supported by data from IntoTheBlock, which shows that whales have accumulated over 830 million XRP in the past 24 hours, signaling growing confidence in the asset, as highlighted by crypto analyst Ali Martinez.
Additionally, XRP’s growth potential is bolstered by the launch of Ripple USD (RLUSD) stablecoin globally, a significant milestone for both the XRP Ledger and Ripple. As Ripple CEO Monica Long explained, RLUSD enters the $70 billion payments flow market, benefiting from over a decade of industry expertise, strict NYDFS compliance, and a strong advisory board. With its credibility and utility, RLUSD is set to strengthen XRP’s position in the cryptocurrency space.
Given these developments, analysts are predicting even greater surges for XRP. In a recent tweet, popular crypto analyst “The Charting Guy” highlighted XRP’s breakout from a seven-year-long consolidation pattern dating back to 2017. As he explained, he had been anticipating this moment all year before an even larger move unfolds.
“I was ignoring that XRP and most lagging altcoins do nothing until BTC breaks out in real price discovery, not a fake breakout like March.” The pundit wrote.
According to him, XRP’s breakout is now precisely following the 2017 fractal pattern, with a predicted price target of $8 by January. After a period of consolidation, he noted he anticipates XRP could reach $26 by September 2025, assuming the pattern continues to align as expected.
On a shorter timeframe, analyst Ali Martinez pointed out a potential bullish flag setup, noting that XRP has been consolidating within this bull flag for some time. He believes that once XRP clears the $2.60 resistance, it could soar toward $4.
XRP traded at $2.7 at press time, reflecting a 13.77% surge in the past 24 hours.
