XRP has showed a significant increase in price action over the past 48 hours as the price of XRP jumped from below $2 at the start of the year, but is now near the $2.40 region. Interestingly, this recent push is more than just rejection, especially as the longer-term chart structure shows comparisons with XRP’s behavior prior to its 2017 breakout.
How the 2017 structure unfolded before the surge
Technical analysis XRP’s current price action on the weekly candle time frame chart shows that the cryptocurrency is currently following a similar price action as it did in 2017 on the three-day chart.
In this earlier period, the price action took place through a well-defined sequence of five waves, characterized by alternating phases of decline and recovery. Waves one, three and five each pushed the price lower with corrective pressure, while waves two and four produced temporary spikes that eased selling pressure but failed to establish a lasting trend reversal.
Related reading
The final phase of that streak was particularly important. During the fifth wave, XRP’s decline slowed down and compressed into a falling wedge formation. The price of XRP slipped below the $0.005 level and eventually stabilized around $0.00485, where the decline became more limited.
From here, downside pressure gradually eased, volatility eased, and selling momentum faded. When XRP finally broke out of that compression, it quickly regained the $0.008 zone and broke through $0.02, resulting in the start of a recovery that ultimately saw gains in excess of 1,000%.
XRP price chart. Source: @Steph_iscrypto
According to Steph’s analysis, the recent price of XRP follows an incredibly similar rhythm. After reaching around $3.40 in mid-2025, the cryptocurrency entered a corrective phase that pushed the price steadily lower to form a descending wedge structure.
That pad found support at $1.74, where the selling pressure has slowed and the price action has stopped making new aggressive lows. XRP now appears to be breaking out of the bearish wedge and returning to consolidate its price above $2.
XRP price in focus
Now that XRP is back to trading above $2 and above the falling wedge, the next course of action is to see how the price behaves from here. Of course, the most optimal course of action is for XRP to repeat the 1000% increase, which would put it at a target price of around $22.
Related reading
In terms how is this going there are resistance levels to watch out for. The $2.30 area is an early test, followed by $2.50 and $2.80, the previous consolidation levels where XRP has slowed down during its push to all-time highs in 2025.
After that, the $3.10 price level and the previous 2018 high of $3.40 are the main resistances that should be recovered. On the downside, sustained weakness below $1.90, and especially a move back towards $1.74, would challenge the notion that the corrective phase has fully played out.
Featured image created using Dall.E, chart from Tradingview.com
About the Author
