Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Technical analyst Rupert, host of the Allincrypto podcast, highlighted a major bullish setup that could send the cryptocurrency on a long rally. According to his latest analysis shared on social media, XRP’s chart is forming a structure that points to an eventual price target of $19.27, with the move being supported by its late 2024 breakout and its current positioning belowits previous all-time high. Breakout From Long-Term Triangle Formation
XRP has mostly been trading around$2.80 over the past week, ranging between $2.77 and $3.02. However, the cryptocurrency has managed to break abovethe $3 barrier in the most recent 24-hour period with a gain of approximately 3.9%. Related Reading XRP RSI Remains Bullish As Support Levels Hold, Price Eyes Break Above $3.6 1 day ago
From a wider perspective, XRP’s latest price actionis part of a much larger story that has been unfolding since late 2024. Leaving the shorter timeframes to higher timeframes shows that the cryptocurrency is currently consolidating just below its former 2018 all-time high.
Particularly, technical analysis of a longer timeframe on the two-week candlestick chart, which was posted by Rupert on X, shows that XRP is now consolidating after breaking out of a multi-year triangle formation that dates back to late 2024.
He noted that nearly two years ago, his team had already predicted a breakout from this formation, and since then, XRP has delivered more than 400% gains from that initial forecast. However, XRP is now back into the zone of its 2018 all-time high after reaching $3.65 in July, and this level is now acting as resistance.
In his video, Rupert noted that it is common for assets to stall or retrace slightly after testing such important levels. Therefore, the way XRP is consolidating is less a sign of weakness and more of a setup for continuation. Furthermore, he noted that the chart is shaping into acup and handle formation, which is another bullish pattern that contributes to the possibility of another strong rally. Path To $19.27 Still On Track
Looking at the bigger picture, Rupert noted that the triangle projection is still pointing to a target of $19.27. Not only does the price confirm that, in regard to direction, the way XRP is trading on the smaller time frames and how it is interacting with a key level of significance at its previous all-time high is telling, in fact, that it’s got further upside to come. Related Reading XRP Price Could See 20% Bounce To $3.4 If This Trendline Holds 4 days ago
Additionally, he indicated that confirming signals from thetotal altcoin market capitalization (Total 3) reinforce the bullish scenario. This is important, as the total altcoin market cap registered its highest monthly close ever in August. As long as XRP bulls maintain its priceabove $2.8 to $3, then it is still on track to reach the projected $19.27 price target.
At the time of writing, XRP is trading at $3.02, up by 3.9% in the past 24 hours. XRP trading at $3.0 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com