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

Technical analyst Rupert, host of the Allincrypto podcast, highlighted a major bullish setup that could send the cryptocurrency on a long ￰0￱ to his latest analysis shared on social media, XRP’s chart is forming a structure that points to an eventual price target of $19.27, with the move being supported by its late 2024 breakout and its current positioning below its previous all-time ￰1￱ From Long-Term Triangle Formation XRP has mostly been trading around $2.80 over the past week, ranging between $2.77 and $3.02. However, the cryptocurrency has managed to break above the $3 barrier in the most recent 24-hour period with a gain of approximately 3.9%.

Related Reading: XRP RSI Remains Bullish As Support Levels Hold, Price Eyes Break Above $3.6 From a wider perspective, XRP’s latest price action is part of a much larger story that has been unfolding since late ￰2￱ the shorter timeframes to higher timeframes shows that the cryptocurrency is currently consolidating just below its former 2018 all-time high. Particularly, technical analysis of a longer timeframe on the two-week candlestick chart, which was posted by Rupert on X, shows that XRP is now consolidating after breaking out of a multi-year triangle formation that dates back to late ￰3￱ noted that nearly two years ago, his team had already predicted a breakout from this formation, and since then, XRP has delivered more than 400% gains from that initial forecast.

However, XRP is now back into the zone of its 2018 all-time high after reaching $3.65 in July, and this level is now acting as ￰4￱ his video, Rupert noted that it is common for assets to stall or retrace slightly after testing such important levels. Therefore, the way XRP is consolidating is less a sign of weakness and more of a setup for continuation. Furthermore, he noted that the chart is shaping into a cup and handle formation, which is another bullish pattern that contributes to the possibility of another strong ￰5￱ To $19.27 Still On Track Looking at the bigger picture, Rupert noted that the triangle projection is still pointing to a target of $19.27.

Not only does the price confirm that, in regard to direction, the way XRP is trading on the smaller time frames and how it is interacting with a key level of significance at its previous all-time high is telling, in fact, that it’s got further upside to ￰6￱ Reading: XRP Price Could See 20% Bounce To $3.4 If This Trendline Holds Additionally, he indicated that confirming signals from the total altcoin market capitalization (Total 3) reinforce the bullish ￰7￱ is important, as the total altcoin market cap registered its highest monthly close ever in ￰8￱ long as XRP bulls maintain its price above $2.8 to $3, then it is still on track to reach the projected $19.27 price ￰9￱ the time of writing, XRP is trading at $3.02, up by 3.9% in the past 24 ￰10￱ image from Getty Images, chart from ￰11￱