Explosive Ripple (XRP) Price Prediction: Double Digits Possible This Year?

Ripple’s XRP is showing a structure that resembles the Wyckoff accumulation pattern. It has appeared during past market cycles and often precedes a breakout.

XRP is priced at $2.43 at press time, with a 24-hour trading volume of over $4.2 billion. The price has decreased by 1% during the period and 4% over the past week.

Wyckoff Accumulation Appears to Be Forming

Market analyst EtherNasyonaL shared a chart showing XRP moving through two defined accumulation zones. These areas are marked by sideways movement, which is common in the early stages of the Wyckoff model. The structure also includes a potential “spring,” a sharp dip followed by a recovery, often appearing just before a breakout. The analyst said:

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, pointed to the price zone near $2.47 as a key level. XRP recently moved above a descending trend channel and bounced off the support zone at $2.31. The price is testing a supply zone, which could shift to support if buyers stay active.

Source: Egrag Crypto/X

The next level to watch is $2.55. A clear move above this area would suggest that the market has flipped resistance into support. If this happens, the next target is around $2.65. If not, XRP may revisit lower levels around $2.31 to $2.14.

According to ChartNerd, XRP has broken above a key resistance line that held since 2017. A similar breakout occurred in 2017 and was followed by a large price increase.

Separately, XRP’s short-term holder Net Unrealized Profit/Loss (NUPL) dropped to -0.20, as previously reported. This value indicates current holders are mostly in loss positions, which has historically appeared during early stages of market reversals.

Major Transfer From Co-Founder Wallet

Blockchain data from CryptoQuant tracked a large transaction from an address linked to Ripple co-founder Chris Larsen. The address moved 50 million XRP, worth roughly $120 million, within one hour. This was confirmed by analyst @JA_Maartun, who noted,

Large outflows from the same address were also recorded during previous price peaks in 2018 and 2021. The reason behind the latest movement was not disclosed. This transfer comes during growing interest in XRP’s price action and has led some traders to take a closer look at insider activity.

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