Analyst: XRP Is About to Go Parabolic. Here’s the Signal

A prominent cryptocurrency expert, Amonyx (@amonbuy), has issued a strong forecast for XRP, suggesting a significant upward price movement. This prediction, shared with a detailed monthly chart, is rooted in a technical structure that has been developing over several years.

Breakout from Multi-Year Symmetrical Triangle

The technical analysis centers on a long-term symmetrical triangle pattern that emerged after XRP's peak in 2018. For years, XRP traded within this formation, demonstrating consistent buyer support and an inability for sellers to drive the price below key support levels. The market consistently formed higher lows, and the trading range gradually tightened.

XRP's recent breakout in late 2024 saw its price move above the upper trend line of this multi-year triangle. The current monthly candle remaining above this line serves as a confirmation of strength. This suggests that XRP's upward trajectory may not yet be complete.

Historical Patterns Fuel Market Expectations

Amonyx also drew a comparison to an earlier pattern in XRP's history. In 2017, XRP experienced a similar symmetrical triangle formation before breaking out and experiencing a sharp climb. The current triangle, while larger, shares a similar structural resemblance. This reliance on repeating chart formations is common among analysts who believe that similar market conditions can lead to similar outcomes.

If XRP replicates its historical performance from the 2017 breakout, the chart analysis indicates a potential price target exceeding $10. While Amonyx did not provide a specific timeframe for this target, the monthly chart suggests a prolonged accumulation phase. The comparison between these two triangular patterns is a key driver of current market interest, as traders anticipate a multi-stage market reaction.

Further supporting the bullish outlook, the monthly Relative Strength Index (RSI) is positioned above the midpoint and is steadily climbing. This indicator has historically coincided with previous rallies. Additionally, the moving averages are aligned bullishly, reflecting robust buyer activity.

Market Focus on Upcoming Price Closes

Market participants are now closely observing XRP's performance, particularly its monthly price closes, to gauge sustained momentum. Traders are looking for XRP to maintain its position above the breakout zone. Despite recent price fluctuations, XRP continues to hold critical support levels.

Major investors are monitoring monthly candles for definitive signals of strength. A strong monthly close could bolster market confidence, while a weak close might lead to a delay in further price appreciation. The coming months will be crucial in determining which market sentiment prevails for XRP.