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A fresh technical signal on the XRP chart is drawing attention from traders, after analysts identified a new green candlestick pattern that could signal the start of a larger bullish phase.
According to market analyst CW, the candlestick formation recently appeared on higher-timeframe charts, suggesting momentum may be shifting after a prolonged consolidation period.
The analyst noted that once supporting sub-indicators confirm a bullish signal, XRP could enter what they describe as a “Phase 4 rally,” historically the stage where price acceleration becomes more pronounced.
Based on previous market cycles and Fibonacci extension analysis, the projected upside target is around $21.5, which corresponds to the 6.618 Fibonacci level.
That said, traders say XRP’s current market structure resembles a volatility squeeze, where price compresses within a narrow range before a sharp breakout. Such conditions often precede large directional moves as accumulated market pressure eventually resolves.
On-chain data also suggests heightened activity from large holders.
According to data from CryptoQuant, whale-sized XRP transactions have surged across major exchanges in recent months. Binance alone reportedly recorded roughly 450 million XRP in large transfers over the past 10 days, signaling increased activity among high-value wallets.
Market data compiled by CoinMarketCap shows XRP trading near $1.41, up roughly 3% over the past 24 hours and slightly outperforming the broader crypto market. Part of the interest has been driven by the collaboration between Ripple and Mastercard to expand the use of blockchain technology for cross-border payments.
Technically, XRP is consolidating around the $1.38 to $1.41 range, where indicators such as Bollinger Bands are tightening, suggesting volatility is tightening.
If the asset maintains support near the $1.39–$1.40 breakout zone, traders expect a short-term move toward $1.44–$1.50. A failure to hold that level, however, could trigger a pullback toward the $1.34–$1.37 region before any broader rally develops.
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Source: https://zycrypto.com/ripples-xrp-millionaires-are-back-in-business-as-market-pundits-cite-expected-price-target/
