An XRP analyst is pushing back against the growing sense of boredom surrounding XRP’s price action, with the outlook that people are misreading what is actually happening on the higher timeframes.
Taking to the social media platform X, an analyst known as XRP QUEEN said traders are overlooking a typical setup that has always preceded some of XRP’s most notable rallies. Her view is based on XRP’s weekly price structure and a comparison with how previous long consolidation phases eventually resolved.
Why XRP $1.50 To $3 Range Matters More Than It Looks
A look at the weekly candlestick timeframe chart shows that XRP’s price action over multiple months has been largely confined between support at $1.5 and resistance just above $3. Interestingly, according to the analysis from XRP Queen, XRP’s price action being pinned between roughly $1.50 and $3 is not a sign of weakness but a repeat of earlier accumulation zones.
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The chart shows how the token has previously spent long stretches moving sideways for hundreds of days, highlighted on the chart as 200-day, 800-day, and even 1,000-day consolidation phases. In each case, price compression eventually gave way to a vertical move higher, labeled as MOON on the chart.
The key point being made is that these flat, frustrating periods tend to drain interest and attention from the market. That drop in engagement, according to the analyst, has always aligned with smart accumulation. The longer the range holds, the more pressure builds beneath the surface.
$2.72 And The Projection Of A Teleport Move
A notable level on the chart is the $2.72 zone, which is sitting around the 0.786 Fibonacci extension level projected from XRP price lows in 2018. Breaking and holding above $2.72 would be important to how XRP rallies to new all-time highs. As noted by XRP Queen, if $2.72 holds, then the next outlook is looking at $9-$15.
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Once XRP leaves this range, it teleports. No pullbacks and no second chances. The projection on the chart shows Fibonacci extensions stretching far above the current price. These extensions include 0.786 at $2.71, the 1.0 extension around $3.40, followed by 1.618 at $5.47, 2.818 at $8.78, and the most extreme 4.764 extension around $15.89, all pointing to price targets to be broken once the current range is broken.
However, the altcoin is currently trading far below the $2.72 level needed to confirm the price teleportation to interesting highs. At the time of writing, XRP is trading around $1.60, meaning the price would need to climb by about 69% just to retest $2.72. Until that happens, XRP is in consolidation mode, and it is unclear how long it will keep trading sideways in the current range.
Featured image from Freepik, chart from Tradingview.com