XRP appears to be on the verge of a major bullish breakout, with technical indicators and on-chain data pointing to a potential rally of 80-100%.
The XRP/USDT daily chart presents a clear symmetrical triangle, a neutral consolidation pattern often preceding a breakout. Lower highs and higher lows characterize this formation, squeezing price action into a tightening range.
XRP has tested both trendlines for the past few months, with support holding around the $2.00-$2.20 level and resistance forming near $2.70. The structure suggests that a decisive breakout could happen soon, with the direction largely depending on market momentum.
If XRP breaks above the upper trendline, it could trigger a strong rally toward $4.00-$5.00, aligning with the projected wave 5 expansion on the chart. A breakout of this magnitude would mirror previous bullish cycles where XRP surged rapidly after long periods of consolidation.
On-chain data from Messari and CoinMetrics shows that whales have aggressively accumulated XRP, adding to the bullish narrative.
The number of addresses holding at least 1 million XRP has climbed to 2,740, steadily increasing over the past three months.
Similarly, addresses with at least 100,000 and 10,000 XRP have surged to 33,440 and 295,360, respectively.
This growing institutional interest suggests that large investors anticipate a major move. Historically, spikes in whale accumulation have preceded strong bullish breakouts, as these players typically accumulate before major price expansions.
If this trend continues, the supply on exchanges could shrink, creating a potential supply shock that amplifies the breakout move.
The CryptoQuant volume bubble map highlights a significant surge in trading volume around the $2-$3 price range across all spot exchanges. This heightened activity suggests that whales and large investors may have been accumulating XRP aggressively in this price zone.
Historically, large volume spikes near key support or consolidation areas often precede strong price breakouts, indicating buyers are stepping in before the next leg up. The growing demand at this level aligns with the whale accumulation trend, reinforcing that XRP is building a strong foundation for an uptrend.
Additionally, past price cycles have shown that XRP experiences parabolic rallies following high-volume accumulation phases.
If history repeats, combining technical breakout potential, whale interest, and increased trading activity could fuel an 80-100% surge toward $4.50-$5.00 in the coming weeks.
Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.