Ripple“s XRP token has been demonstrating resilience, maintaining support within the range of $1.80 to $2. Analysts suggest that this stability could precede an extended consolidation phase before any significant upward movement, potentially targeting $10.
Market analysts have noted striking similarities between the current conditions of XRP and the market cycles of 2017 and 2022, which also experienced prolonged periods of sideways trading before dramatic breakouts.
Onchain indicators, specifically the Net Unrealized Profit/Loss (NUPL) and Market Value to Realized Value (MVRV) ratios, indicate that XRP is entering zones historically associated with market bottoms and undervaluation. The NUPL, which assesses the unrealized profits and losses of XRP holders, suggests a capitulation phase, often seen at cycle lows.
Currently, the MVRV ratio is recorded at 1.23, a stark contrast to the peaks of 14.73 in 2017 and 3.9 in 2021, indicating reduced profit-taking pressure. This lower ratio supports the theory of consolidation. Furthermore, the Relative Strength Index (RSI) is trending upwards, nearing the neutral level of 50, while technical patterns reveal a bullish engulfing signal on the daily chart.
XRP recently formed a triple-bottom pattern at $1.78, a bullish reversal indication that could propel the price by 25% to $2.41 if the pattern holds. After a 5% rise on Monday, XRP is trading around $1.90, having successfully defended its key support zone between $1.80 and $2 since December 2024. This support level has been tested multiple times, leading to price bounces ranging from 35% to 90% during these retests.
Analyst Mikybull Crypto remarked that XRP seems “prepared for liftoff,” emphasizing the strong support near the 2021 high of $1.96. Another analyst, CryptoBull, pointed out that XRP”s current price structure echoes patterns observed in previous bull markets, but notes that timing remains a critical differentiator.
Historical data suggests that after dropping below previous highs in 2022, XRP traded within a range of $0.30 to $0.70 for over three years before experiencing a staggering 390% surge in December 2024. Should a similar pattern emerge, XRP might remain around the $2 mark for an extended period before any major price movements.
In addition to technical indicators, Ripple is expanding its footprint through strategic partnerships. Recently, Ripple Labs announced a collaboration with Jeel, the innovation arm of Riyadh Bank in Saudi Arabia, focusing on blockchain integration for cross-border payments. Riyadh Bank manages assets exceeding $120 billion, marking a significant step for Ripple in enhancing its international presence.
This partnership aligns with Ripple”s recent successes in obtaining licenses in both the United Kingdom and Luxembourg, alongside a banking charter from the Office of the Comptroller of the Currency in the United States. Additionally, third-party data indicates that Ripple”s Real World Asset tokenization has increased by 30% over the last month, reaching over $410 million, while its stablecoin market capitalization has grown by 10% to $393 million within the same timeframe.
