XRP has shown remarkable stability in recent days, even as Bitcoin fell to $110,500 and struggled to regain $112,700 over the past 24 hours. In contrast to Bitcoin, XRP has not formed a new low and has instead fluctuated between $2.90 and $2.91.
Crypto analyst Captain Redbeard suggests that XRP’s price movement is breaking out of a significant multi-year triangle pattern, potentially preparing for another parabolic increase.
XRP Breaks Out Of Multi-Year Triangle
According to Captain Redbeard’s assessment, initially shared on the platform X, XRP has successfully broken out from a triangle formation. This breakout is particularly significant as it represents movement above a multi-year consolidation structure that has been forming since the last bull market.
Related Reading
As Redbeard noted, “history doesn’t repeat, but it certainly rhymes.” Reflecting on history, this specific setup was observed in 2017 before XRP soared to its former all-time high of $3.4 in 2018. The breakout from such a prolonged compression is crucial as it indicates that years of sideways movement have generated enough momentum for a robust directional shift.
The 2-week candlestick chart he provided illustrates XRP’s breakout from the triangle in early 2025. However, XRP’s recent price activity has shown the cryptocurrency consolidating within a parallel channel just above the 1.0 Fib extension level, reflecting a pattern similar to that observed in mid-2017 following a comparable breakout.
Nevertheless, the consolidation pattern is nearing its conclusion, and if history is any guide, XRP may be poised for a breakout similar to past instances. The analyst’s chart projects a potential rise to as high as $27.
Golden Retrace Support At $2.90
Captain Redbeard’s analysis highlights the macro breakout, although the price target may take years to materialize. A more immediate analysis of the 4-hour candlestick timeframe indicates that XRP must remain above $2.90.
Related Reading
This context is derived from an analysis by crypto analyst CasiTrades. Unlike Bitcoin, which has recently fallen to $110,000 and is struggling to reclaim a 0.236 fib retracement at $112,700, XRP has demonstrated greater resilience. The token has remained steady around $2.90 to $2.91, aligning with the golden retracement level at the 0.618 Fibonacci. According to Elliott Wave theory, this area typically serves as support for a corrective Wave 2 before a stronger upward Wave 3 begins.
CasiTrades identified $3.12 as the critical confirmation point to monitor. A clear break above this level could affirm the bullish structure and propel XRP toward higher Fibonacci extensions. Projections suggest $4.48 as the next major resistance level and $5.40 as the ultimate price target for Wave 3.
As of this writing, XRP is trading at $3.02, reflecting a 3.4% increase in the last 24 hours.
Featured image from Pexels, chart from Tradingview.com
