XRP Price Repeats Pattern That Triggered 580% Rally in 2024

TLDR

• XRP price has dropped more than 13% after reaching a local high of $1.54 in May.
• Analysts say XRP is repeating a technical structure seen before the 580% rally in 2024.
• XRP recently broke above a descending trendline before entering a correction phase.
• Market analyst Mikybull believes the current pullback could confirm breakout strength.
• Analyst Ali Martinez warned XRP could fall to $0.73 if support levels fail to hold.

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The XRP price has remained under pressure after reaching a local high of $1.54 earlier this month. XRP currently trades near $1.3295 after falling more than 13% from the May peak. The correction comes during a broader crypto market decline that has affected several major digital assets.

Market analysts now point to a technical structure that resembles the setup before XRP recorded a major rally in November 2024. According to crypto analyst Mikybull, XRP has already repeated two of the three technical conditions that preceded the previous price surge.

XRP Price Repeats Earlier Trendline Structure

Chart data shared by Mikybull shows that the first condition involved a breakout above a descending trendline. That trendline had restricted XRP’s price movement for nearly 12 months after the asset dropped from the $0.92 level in July 2023.

XRP eventually broke above that resistance zone when it climbed to around $0.63 in July 2024. After the breakout, the asset entered a pullback phase that served as a retest of the broken trendline. XRP later stabilized above support levels before beginning a strong upward move.

According to Mikybull, the current XRP price structure appears similar. Following a correction from the July 2025 peak of $3.6, XRP formed another descending trendline due to consistent lower highs. Earlier this month, XRP moved above that trendline during a weekly rally of around 6%.

The recent correction from $1.54 is now viewed as the second stage of the structure. “The next phase will be a bullish move,” Mikybull stated while discussing the pattern.

November 2024 Rally Remains Key Reference Point

The previous XRP rally began after the asset completed the same sequence of technical conditions in late 2024. After confirming support above the breakout level, XRP surged from around $0.5 in November 2024 to nearly $3.4 within two months.

That move represented a gain of about 580%. Some analysts believe a similar percentage increase from the current XRP price could place the asset near the $9 level. However, analysts continue to caution that past market structures do not always produce identical outcomes.

Weekly chart data also shows that the Moving Average Convergence Divergence indicator, commonly known as MACD, has formed a pattern similar to the one observed before the 2024 rally. Traders often monitor MACD signals to identify possible momentum shifts in the market.

Despite the bullish comparisons, XRP remains exposed to downside pressure if support levels fail to hold during the ongoing correction.

Analysts Monitor Support Levels During Market Pullback

Another crypto analyst, Ali Martinez, recently warned that XRP had dropped below the mid-band of its monthly parallel trading channel. According to Martinez, failure to recover that level could expose XRP to additional losses.

Martinez stated that XRP could decline toward $0.73 if the asset continues trading below the channel midpoint. The warning adds to market caution as investors monitor whether XRP can defend the recent breakout zone.

The broader cryptocurrency market has also experienced volatility in recent weeks, contributing to selling pressure across major assets. Bitcoin and Ethereum have both recorded pullbacks during the same period.

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