Ripple’s XRP traded sideways on Friday, balancing market hesitation with mounting crypto bullish pressure.
Notably, over the past week, the world’s fifth-largest cryptocurrency declined by roughly 1%, indicating sideways price action as traders await clearer directional cues.
Despite the subdued price movement, several analysts point to signs of accumulation that could set the stage for a major bull run.
According to analyst XForceGlobal, a popular Elliot Wave Pattern analyst, XRP prices could surge to between $6 and $10 in the near term.
“XRP, it’s all coming together… 1. Retest ATH 2. Retrace the entire range 3. $4, $5, $10+, next…?” he noted in an analysis this week.
Notably, this perspective underscores the idea that XRP’s recent consolidation could be laying the groundwork for renewed upward momentum, potentially leading to multi-level gains over the coming months.
Furthermore, analyst Javon Marks suggested that XRP’s breakout from a symmetrical triangle breakout in late 2024 could signal massive upside potential.
“XRP’s measured move target above $15 goes unchanged! The breakout that took place in late 2024 hints at another 10X (>900% increase) being possible to those price levels,” he said.
Additionally, popular analyst Ali Charts offered a more conservative technical perspective, highlighting potential support levels.
“XRP could find support along the triangle’s hypotenuse between $0.90 and $0.60,” the analyst stated.
This view suggests that even if short-term volatility emerges, XRP has a solid technical floor that could protect it from a severe downturn, giving investors confidence to hold or accumulate further.
Moreover, according to analyst Chartnerd, the big XRP question is whether the upcoming backtest of the 200-week exponential moving average (WEMA) will reveal a bear market, as it did in 2022, or signal a maximum opportunity similar to 2024.
The 200 WEMA has historically been a key indicator in determining long-term trend reversals for XRP, making its upcoming behavior a focal point for traders and analysts alike.
He noted that if March unfolds as expected, with a rally above $2, that period could become a true make-or-break moment for the market.
That said, while short-term fluctuations remain a possibility, the technical indicators and historical patterns suggest a potential for substantial gains, potentially reaching $6–$10 if the bullish setup continues to unfold.
At press time, XRP was trading at $1.42, reflecting a 0.83% decline in the past 24 hours.
Source: https://zycrypto.com/mega-xrp-accumulation-driving-10-xrp-price-outlook/
