XRP Quiet On Holiday; Analysts Prep For Major Breakout

• XRP holds steady as the crypto market slows over the holiday weekend.
• Analyst spots repeating pattern in XRP’s long-term price chart.
• Historical trends suggest XRP could jump to $12 or higher.

With the Memorial Day market closing in the U.S. on Monday, May 26, crypto markets have slowed down, with trading volume dropping nearly 20%. Most major cryptocurrencies, including XRP, are seeing minimal movement. However, many analysts believe this calm won’t last long. According to recent chart patterns and market trends, XRP could be preparing for a major breakout in the coming weeks.

Analysts Predict Big Gains for XRP

XRP has been trading around $2.30 and $2.34 recently, holding steady after a strong 430% increase earlier. According to analysts, this price behavior is similar to past market cycles that led to big price jumps. Historical patterns show that when XRP consolidates like this, it often makes a sharp move soon after.

XRP’s 21-Month EMA Interaction Historically Triggers Massive Swings

One popular crypto analyst, known as EGRAG Crypto, has closely studied XRP’s price movements over the years. He explained that XRP’s monthly chart reveals a repeating pattern.

In past cycles, the price of XRP would drop below its 21-month exponential moving average (EMA), climb back to that level, and then either surge or fall again.

Price Targets Based on Historical Patterns

In one of its biggest moves, XRP once dropped 5,500%, climbed back to the EMA, and then fell another 2,500%. Another time, it dropped 150%, returned to the EMA, and dropped again by 500%. Now, in the current market cycle, XRP has already fallen below the EMA and experienced a 430% rise. The next step, according to historical trends, would be another big price move.

Related: XRP Fractal Suggests 1,772% Rally by July—Is History About to Repeat?

If the same pattern repeats, XRP could reach as high as $46. A more realistic prediction puts the price around $12. By averaging out these numbers, the estimated price could settle around $27 to $30, depending on how the market reacts in the coming months.

XRP Breaks Out of a Long-Running Pattern

XRP has also managed to break out of a descending wedge pattern on the charts, which is typically seen as a bullish signal.

Related: The Bearable Bull Forecasts XRP at $8 Amid Growing Crypto Market Excitement

It has faced some resistance around the $2.60 level but continues to show strength. If it can push past $2.60 level, it could trigger the next leg of its rally.