An analyst sees a repeating consolidation and falling wedge pattern that previously led to a major breakout.
A recent look at XRP’s chart shows something interesting taking shape. The price appears to be forming a pattern that, in the past, led to a strong move high of 580%.
CryptoWZRD noted that XRP is now following a pattern similar to the one observed about a year ago. At that time, a long pause in price was followed by a sudden and aggressive rally.
Based on that comparison, he suggested XRP may be approaching another major move, if the pattern continues to play out
The same pattern reappeared in 2024. At the time, XRP traded far below the $1 mark. For most of the year, the price remained stagnant. It moved sideways, stuck between about $0.40 on the low end and $0.75 on the high end. Every push toward $0.70 failed. At the same time, buyers consistently defended the $0.40 area, stopping deeper drops..
Then the breakout arrived with the cryptocurrency posting a record 580% breakout rally. XRP price broke out of the pattern as optimism returned to the market ahead of the U.S. elections.
That surge made XRP one of the biggest winners of the period, far outpacing most other assets at the time.
While most risk assets were rising during the Trump-era market upswing, XRP’s gains were noticeably stronger than the rest.
CryptoWZRD sees a pattern familiar from the past forming again. After hitting $2.70 in late October, XRP slipped into a falling wedge. That setup occurred before the significant drop in the fourth quarter, when the token declined by roughly 35%.
History may be giving us a hint. In the past, a falling wedge often marked the end of these long sideways stretches. It usually meant the market was getting ready for a strong move.
Now, that move is happening. XRP has bounced back from its Q4 slide and is already up nearly 14% this year.
CryptoWZRD thinks XRP might be gearing up for a repeat of its November 2024 rally. The token is currently trading near $2.10. It is holding above the important $2 level, as buyers try to prevent another drop. If the token mirrored the 580% surge from its previous breakout, it could climb to about $14.28.
To support the theorem, since their mid-November launch, XRP ETFs have been attracting money almost every single day. So far, they have pulled in $1.2 billion, according to SoSoValue.
This performance stands out when compared with other major crypto ETFs. Bitcoin ETFs saw $2.4 billion leave during the same period, while Ethereum ETFs lost $898 million, according to DefiLlama.
A large portion of the XRP inflows has come from institutions. Many investors are drawn to Ripple because of its strong focus on compliance and regulatory clarity. In November, Ripple raised $500 million, sending its valuation to $40 billion.
Meanwhile, traders are balancing short-term pressure on XRP’s spot price with a longer-term bullish signal in the XRP/BTC ratio.
Chartist The Great Mattsby noted that XRP/BTC is nearing a break above the monthly Ichimoku cloud for the first time since 2018. Historically, such a move has signaled that XRP could outperform Bitcoin if it holds.
This setup is gaining attention as cross-asset rotation themes are resurfacing early in the year. At the same time, spot markets remain sensitive to liquidity gaps and stop-driven swings, keeping traders cautious.
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