XRP 'Looks Good' for a $4 Price Run: Technical Analysis Shows Familiar Breakout Pattern

Source: CryptoNewsNet Original Title: XRP ‘Looks Good’ for a $4 Price Run: Details Original Link:

XRP Shows Early Strength with Familiar Technical Setup

XRP is displaying early signs of strength after months of sideways movement, with traders identifying a familiar price structure that has previously led to major upside breakouts.

At the time of writing, XRP is trading at $1.94, up 2.13% over the past day, though it remains down 7.2% over the past week.

XRP “Looks Good”

Widely followed trader DonWedge shared a 12-hour XRP chart highlighting a repeating technical pattern that has appeared twice over the past year. In both cases, XRP formed a descending channel following a strong rally.

Notably, the first instance was XRP’s move from $0.49 to $3.34 between November 2024 and January 2025, delivering 6x gains before entering a controlled downward channel that saw it dip below $1.80 over a six-month period. Once selling pressure faded, XRP broke out decisively in July, eventually reaching $3.66.

Current Structure Mirrors Past Setup

The current structure now closely mirrors that earlier setup. XRP has spent six months moving within a falling channel, with the price now pressing near the lower boundary as volatility compresses. The market is increasingly eager for a resumption of a new uptrend.

$4 Is a Possible Next Target

DonWedge’s projection outlines a breakout scenario that could send XRP toward the $4 level, aligning with a measured move similar to the previous post-consolidation breakout. From current levels, XRP would need just over a 106% price surge to reach $4, which would mark a new all-time high.

While a move to $4 is not guaranteed, the price action suggests XRP is building strength as its long consolidation phase may be nearing its end.

Calls for $6 XRP

Elliot Wave analyst XForceGlobal stated that XRP is in an accumulation phase rather than a bearish zone and could reach a $6 price target. He noted that XRP has been consolidating for over a year within its current pattern and for more than eight years in a broader cycle.

According to XForceGlobal, XRP’s long-term triangle breakout remains valid, and recent pullbacks are simply normal market noise. Despite short-term volatility, he considers $6 a conservative target, adding that long, quiet periods are a natural part of the process.