XRP (XRP-USD) is now less than 15% away from breaking its all-time high. Traders believe this could be the last big push before the current market cycle slows down.
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While some optimism comes from speculation about a potential BlackRock (BLK) XRP exchange-traded fund (ETF), most of the momentum is coming from the overall bullish trend in the cryptocurrency market. Technical charts are signaling that XRP could be entering the fifth and final wave of its upward move, which is often where rallies peak.
XRP Builds Strength for the Next Push
XRP started turning bullish in April, forming a higher low in late June. This pattern showed that buyers were stepping in at higher prices, which is a positive sign for the market.
The real acceleration came in mid-July when XRP reached $3.66, setting a new record. After a short pullback earlier this month, the price rebounded and is now attempting to break higher again. Chart patterns suggest the next target range could be between $4.23 and $4.78 if buying momentum holds.
XRP’s Technical Indicators Point to More Upside
Technical indicators are also supporting the bullish outlook. The Relative Strength Index (RSI), which measures buying strength, is above 50. The Moving Average Convergence Divergence (MACD) indicator has also made a bullish cross. These signals often point to more upside in the short term.
However, analysts warn that this could also be the final leg of the rally. The fifth wave in market cycles is usually followed by a slowdown or correction as traders lock in profits.
Long-Term Signals Suggest the Cycle is Near a Top
Looking at the bigger picture, XRP’s price has been moving higher since mid-2024. It became especially strong after breaking out of a long-term consolidation pattern called a symmetrical triangle.
On-chain data adds another layer to the story. The Long-Term Holder Net Unrealized Profit/Loss (NUPL) indicator is approaching 0.75. In past market cycles, XRP’s price has topped when this reading moved above that level.
Another measure, the Realized Cap HODL Wave, shows that short-term holders are making up about half of all trading activity. When this figure climbs to around 70%, it often signals that a market peak is near.
Traders Target a $4.78 XRP Price
If XRP can break through $3.40, the next major zone could be between $4.23 and $4.78. Hitting this range would set a new all-time high.
But history suggests that after this push, the market could turn lower as short-term traders take profits. The next few weeks will be critical for seeing whether XRP can close out this cycle on a high or if the rally will lose steam.
At the time of writing, XRP is sitting at $3.1099.
