XRP price is entering a critical phase of price compression, with top analyst MilkyBull Crypto highlighting a multimonth triangle formation that could precede a significant breakout.
MilkyBull, known for his high-timeframe chart analysis, posted a three-week XRP/USD chart showing a symmetrical triangle following XRP’s explosive surge from under $1 to over $3 in late 2024. The current consolidation pattern, marked by converging trendlines, suggests that volatility is being “stored,” often a precursor to a sharp directional move.
“XRP is coiling up for a big move,” MilkyBull wrote on X, suggesting the asset is nearing a breakout decision point.
XRP Price Eyes 45% Rally By June or July
The pattern resembles a bull pennant — a neutral setup that typically resolves in the direction of the prevailing trend. Given XRP’s strong impulse move into the formation, the bias appears tilted to the upside.
Another chart from analyst BitcoinWallah adds further support. His three-day time frame chart shows XRP price in a pennant triangle with clear lower highs and firm support near $2.20. The setup is capped by a resistance trendline that, if broken, could push XRP toward $3.33 — a 45% rally from current levels.
Volume has declined during the consolidation, in line with textbook behavior for both triangle patterns. The relative strength index (RSI) on the three-day chart hovers near 51, indicating neutral momentum and leaving room for a breakout move in either direction.
Breakout Targets and Risks
Should XRP price break above the pennant resistance around $2.50, it would likely confirm the bullish continuation setup, with the next major resistance near $3.30 — a level XRP hasn’t seen since early 2022.
However, a breakdown below the $2.20 support would invalidate the bullish thesis and possibly trigger a deeper retracement toward $1.80 or lower.
With Bitcoin and Ethereum capturing most of the current market spotlight, XRP price’s muted volatility has flown under the radar. But both MilkyBull and BitcoinWallah suggest that this quiet period may be ending — and that traders should be watching closely.
