XRP Forms Wyckoff Pattern, Analysts Eye $27 Target

Market analyst EtherNasyonaL has identified XRP moving through two defined accumulation zones that characterize the early stages of the Wyckoff model. The pattern shows sideways movement typical of accumulation phases, along with a potential ‘spring’ – a sharp dip followed by recovery that often appears just before breakout conditions. EtherNasyonaL noted that ‘XRP is progressing on the Wyckoff method’ and emphasized the ‘striking’ similarity to the 2017 formation, though he observed that ‘this time the market is more mature.’

The Wyckoff accumulation pattern has appeared during past XRP market cycles and frequently precedes significant breakouts. According to the analysis, the projected path suggests the possibility of another rise followed by new accumulation and distribution cycles. This technical framework is widely tracked by analysts seeking to understand long-term asset positioning based on historical market behavior, particularly given its successful prediction history with XRP.

Analyst Egrag Crypto has identified the $2.47 price zone as a critical resistance level, with XRP recently moving above a descending trend channel and bouncing from support at $2.31. The cryptocurrency is currently testing a supply zone that could transform into support if buyer activity persists. Egrag Crypto indicates that the next significant level to watch is $2.55, with a clear break above this threshold suggesting resistance has flipped to support, potentially opening the path toward $2.65.

ChartNerd provides additional context, noting that XRP has broken above a key resistance line that has held since 2017. The analyst draws parallels to the 2017 breakout that preceded massive gains, stating ‘The last time XRP broke and sat above a 4-year resistance, it rallied 130x.’ This historical precedent underpins ChartNerd’s future target of $27, representing substantial upside potential from current levels if the pattern repeats.

Supporting the reversal thesis, XRP’s short-term holder Net Unrealized Profit/Loss (NUPL) has dropped to -0.20, indicating most current holders are in loss positions. This metric has historically appeared during early stages of market reversals, suggesting potential for sentiment shift despite recent price declines.

Blockchain data from CryptoQuant has tracked a substantial transaction involving 50 million XRP, valued at approximately $120 million, from an address linked to Ripple co-founder Chris Larsen. Analyst @JA_Maartun confirmed the movement, commenting ‘He’s cashing out. You’re holding the bag.’ This transaction occurred within a single hour and comes during growing market interest in XRP’s price action.

Historical data shows that large outflows from the same address were recorded during previous price peaks in 2018 and 2021, raising questions about insider positioning during current technical formations. While the specific reason behind the latest transfer remains undisclosed, the timing has prompted traders to scrutinize insider activity more closely as technical patterns develop.