TLDR
- XRP price surged over 30% after bouncing from a key support trendline.
- ChartNerd confirmed the bullish structure and predicted a possible breakout to $23.7.
- The vertical accumulation is part of a larger bull flag formed after a 400% rally in late 2024.
- Analysts expect XRP to revisit the $3.67 resistance zone if the current momentum continues.
- EGRAG Crypto supported the $23 target and called $3.65 the critical “Valhalla gate” level.
XRP may be set for a breakout, as top market analysts project a price surge following a strong accumulation structure, and while some analysts remain skeptical, technical expert ChartNerd highlights a bullish flag with potential for a 1,039% rally, aligning with EGRAG Crypto’s target of $23.7.
The XRP price surged 30% in early January and continues to hold above its key support trendline, forming the base of an ongoing vertical accumulation pattern. As momentum builds, market watchers are eyeing the next resistance zone at $3.67, with prospects of an extended uptrend.
XRP Price Defends Key Support After 30% Rally
The XRP price rebounded sharply from a late December dip, gaining 30% and reaching a high of $2.41 this week. This move followed a bounce off the lower support line within a vertical accumulation structure. Bulls stepped in strongly to defend the demand zone.
ChartNerd confirmed this pattern, stating, “XRP is showing strength at a critical level and beginning to expand upward again.”
He emphasized that the price recovery suggests a possible start of a new uptrend. The analyst views the structure as part of a broader rectangular bull flag.
This flag includes a pole formed after XRP’s 400% rally between September and December 2024. After that run, the coin entered an extended consolidation phase forming the current pattern.
Analysts Predict Resistance at $3.67 Then $23.7
ChartNerd’s analysis outlines $3.67 as the next resistance in the ongoing structure. The analyst’s chart suggests this level marks the top of the current vertical accumulation pattern. At press time, XRP trades at $2.08.
A move to $3.67 would represent a 76.4% jump from the current level. ChartNerd added, “It’s go time for XRP,” highlighting the breakout from the bull flag. He projects the coin could eventually reach a high of $23.7.
This price point reflects a 1,039% surge if XRP hits that target. The forecast coincides with similar projections made earlier by EGRAG Crypto. He placed $23 and $12 as targets if the coin breaks above key resistance.
Double-Digit Rally Linked to “Valhalla Gate” Breakout
In an earlier analysis, EGRAG Crypto called for a rally if XRP closed above $3.65. He referred to that price as the “Valhalla gate.” The market technician highlighted $23 as a long-term target.
He also shared that XRP could rise to $12 in the near term if current strength holds. Both analysts base their projections on historical accumulation breakouts. They pointed to the previous parabolic run in late 2024.
If XRP reaches $23.7, it would command a market cap of $1.43 trillion. This estimate assumes the circulating supply remains at 60.67 billion tokens. Some market participants label the projection as ambitious.
Skepticism remains, with Peter Brandt noting that XRP must rally much higher to confirm a trend reversal. He suggested that the current move alone does not guarantee sustained momentum. Despite differing views, price action continues to attract interest.
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