Prominent analysts and Ripple (XRP) enthusiasts are gathering to discuss the potential for a major price surge for the digital asset, even as the broader cryptocurrency market faces a severe downturn. This week has been particularly brutal for crypto prices, with Bitcoin (BTC) and Ethereum (ETH) experiencing dramatic declines, dragging overall market sentiment lower. Despite this, a segment of the community remains optimistic about a parabolic recovery, especially for altcoins like XRP.
According to CoinMarketCap data, XRP is currently trading around $1.41, reflecting a decline of over 14.52% in the past week. The asset boasts a market capitalization of approximately $86.36 billion and a 24-hour trading volume of $4.23 billion. To reclaim its all-time high (ATH) of $3.84, set eight years ago, XRP would need to surge over 63%.
One long-time XRP enthusiast, who has studied the charts for over half a decade, argues that on a macro scale, XRP appears "absolutely ready to blast into price discovery at any moment." The analysis points to a 7-year contracting triangle accumulation structure on the price chart, which is expected to be followed by an explosive 5-wave breakout to test previous ATHs. The enthusiast notes that XRP has been in an ABC correction/reaccumulation phase for over a year, leading to a retracement to the .702-.786 Fibonacci level, marking what is identified as "macro wave 2."
The next phase, according to this view, is the start of "macro wave 3," typically the largest wave, which would propel XRP into new price territory. While the exact timing is uncertain, the enthusiast warns that when the correction resolves, the move higher will be "quickly and violently." Another crypto expert, comparing XRP to Bitcoin, suggests the price may dip slightly further to around $1.30 before another upward wave begins. Based on this pattern, some price targets are set between $7 and $9.
Separately, attention is turning to fundamental developments on the XRP Ledger (XRPL) that could drive utility. Ripple's institutional DeFi roadmap, featuring upcoming features like permissioned markets, native on-chain privacy, and institutional lending, is seen as a catalyst for attracting serious financial players.
On-chain data from Santiment indicates a spike in whale activity, with nearly 1,400 transfers valued over $100,000 occurring in a single day after XRP hit a low of $1.16—the highest whale transaction count in four months. This suggests a possible short-term bottom was found. Technical analysis on the 4-hour chart shows XRP in a broader downtrend from highs near $2.80, currently consolidating around $1.41. The Relative Strength Index (RSI) is in the mid-50s, indicating neutral momentum, while Average True Range (ATR) volatility has tempered from recent spikes.
Key price levels to watch this week include resistance at $1.55, with a break potentially leading to $1.70 and even the $1.85 to $2.00 range. On the downside, a drop below $1.35 could see XRP test major support near $1.20.
