XRP Price Setting Up For Next Leg With Expected Targets Reaching $19.27

Technical analyst Rupert, host of the Allincrypto podcast, highlighted a significant bullish setup that would ship the cryptocurrency on a protracted rally. According to his newest evaluation shared on social media, XRP’s chart is forming a construction that factors to an eventual worth goal of $19.27, with the transfer being supported by its late 2024 breakout and its current positioning below its earlier all-time high.

Breakout From Long-Term Triangle Formation

XRP has mostly been trading around $2.80 over the previous week, ranging between $2.77 and $3.02. However, the cryptocurrency has managed to break above the $3 barrier in the newest 24-hour interval with a achieve of roughly 3.9%. 

From a wider perspective, XRP’s latest price action is a part of a a lot bigger story that has been unfolding since late 2024. Leaving the shorter timeframes to increased timeframes reveals that the cryptocurrency is at present consolidating just under its former 2018 all-time high.

Particularly, technical evaluation of an extended timeframe on the two-week candlestick chart, which was posted by Rupert on X, reveals that XRP is now consolidating after breaking out of a multi-year triangle formation that dates again to late 2024.

He famous that just about two years in the past, his staff had already predicted a breakout from this formation, and since then, XRP has delivered greater than 400% features from that preliminary forecast. However, XRP is now again into the zone of its 2018 all-time high after reaching $3.65 in July, and this degree is now performing as resistance.

In his video, Rupert famous that it is not uncommon for belongings to stall or retrace barely after testing such vital ranges. Therefore, the way in which XRP is consolidating is much less an indication of weak spot and extra of a setup for continuation. Furthermore, he famous that the chart is shaping into a cup and deal with formation, which is one other bullish sample that contributes to the possibility of another strong rally.

Path To $19.27 Still On Track

Looking on the larger image, Rupert famous that the triangle projection remains to be pointing to a goal of $19.27. Not solely does the value verify that, in regard to path, the way in which XRP is buying and selling on the smaller time frames and the way it’s interacting with a key degree of significance at its earlier all-time high is telling, the truth is, that it’s obtained additional upside to come back.

Additionally, he indicated that confirming signals from the complete altcoin market capitalization (Total 3) reinforce the bullish state of affairs. This is vital, as the full altcoin market cap registered its highest month-to-month shut ever in August. As lengthy as XRP bulls maintain its price above $2.8 to $3, then it’s nonetheless on observe to achieve the projected $19.27 worth goal.

At the time of writing, XRP is buying and selling at $3.02, up by 3.9% previously 24 hours.