With analysts speculating that its long-term chart patterns are paving the way for a spectacular rally—possibly even propelling the token to the elusive $20 mark—XRP is once again in the news. Although this goal may seem lofty, past price trends, on-chain indicators, and macrotrends are all supporting the idea that XRP is about to enter its most explosive phase to date.
Following its legal clarity in the US and growing demand for its use in cross-border payments, XRP has demonstrated significant momentum in recent weeks, currently trading close to $0.80. With technical indicators flashing signals last seen during its 2017 surge, market analysts now believe XRP is entering what they refer to as a “full bull phase.”
What We Can Learn From the Charts
Technical analyst Egrag Crypto claims that XRP is forming a bullish “W” pattern, which is frequently linked to long-term reversals, after breaking above a multi-year descending triangle. If momentum continues and macro conditions stay favorable, a move toward $13 to $20 may be feasible, according to Fibonacci extension levels plotted from prior highs and lows.
The notion that XRP has a lot of room to grow is further supported by volume trends and RSI. While exchange balances continue to decline, on-chain data indicates that whales and long-term holders are accumulating more, which indicates that supply is shifting into cold storage rather than being sold off.
The XRP Ledger is also experiencing a resurgence in development activity, and the bullish narrative is further supported by Ripple’s global push for enterprise partnerships.
Patience Is Key, but the Setup Is Real
The majority of analysts concur that such high price targets are unlikely to be met overnight, despite the hype. It would take consistent institutional interest, regulatory tailwinds, and wider market support for XRP to reach $20. However, for those who are prepared to endure volatility, the technicals present an appealing picture.
Given that its market capitalization is still far below its peak and that new stories about utility-driven altcoins are emerging, XRP might finally be moving into the stage where sustained belief is rewarded. This may be the most significant cycle for XRP to date, regardless of whether $20 becomes a reality.
Also read: Crypto Euphoria Grows, but Market Indicators Flash Caution
