**Ripple’s XRP Exhibits Wyckoff Accumulation Pattern Signaling Potential Breakout**
Ripple’s XRP is currently displaying a structure that resembles the Wyckoff accumulation pattern—a formation that has appeared during past market cycles and often precedes significant price breakouts. At press time, XRP is priced at $2.43, with a 24-hour trading volume exceeding $4.2 billion. Despite this activity, the price has decreased by 1% over the last 24 hours and approximately 4% during the past week.
### Wyckoff Accumulation Appears to Be Forming
Market analyst EtherNasyonaL shared a detailed chart highlighting XRP moving through two clearly defined accumulation zones. These areas are characterized by sideways price movement, which is typical in the early stages of the Wyckoff model. The structure also suggests the emergence of a potential “spring” — a sharp dip followed by a quick recovery — often a precursor to a breakout.
The analyst commented:
*“The projected path suggests the possibility of another rise, followed by a new accumulation and distribution cycle. This pattern is often tracked to understand long-term asset positioning based on historical market behavior.”*
### Resistance Test Around $2.47
Another analyst, Egrag Crypto, noted that the price zone near $2.47 represents a key resistance level. XRP recently broke above a descending trend channel and bounced off a support zone at $2.31. Currently, the price is testing a supply zone that could potentially shift into support if buying pressure remains strong.
Key levels to watch include:
– **$2.55:** A clear move above this level would indicate that resistance has flipped to support.
– **$2.65:** The next potential target upon a successful breakout above $2.55.
– **$2.31 to $2.14:** In the event of a failed breakout, XRP may revisit these lower support levels.
### XRP’s Historical Breakout and Future Targets
ChartNerd highlighted that XRP recently broke above a key resistance line that held since 2017. A similar breakout occurred back in 2017 and was followed by a substantial price surge. The analyst stated:
*“The last time XRP broke and held above a 4-year resistance, it rallied 130x.”*
Based on this historical precedent, ChartNerd suggested a future target price of approximately $27 for XRP.
### Short-Term Holder Sentiment Indicates Loss Positions
Separately, XRP’s short-term holder Net Unrealized Profit/Loss (NUPL) has dropped to -0.20, indicating that most current holders are in loss positions. This metric has historically appeared during the early stages of market reversals, suggesting a potential shift in market sentiment.
### Major Transfer from Ripple Co-Founder Wallet Raises Eyebrows
Blockchain analytics firm CryptoQuant tracked a significant transaction involving an address linked to Ripple co-founder Chris Larsen. The address moved 50 million XRP—worth roughly $120 million—within a one-hour window. Analyst @JA_Maartun remarked on the movement:
*“He’s cashing out. You’re holding the bag.”*
Notably, large outflows from this same address were recorded during previous XRP price peaks in 2018 and 2021. The exact reason behind this recent transfer remains undisclosed but has attracted increased attention amid growing interest in XRP’s price dynamics. This insider activity has spurred some traders to further analyze potential market implications.
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https://cryptopotato.com/explosive-ripple-xrp-price-prediction-double-digits-possible-this-year/
