As XRP’s price attempts a short-term recovery, the token’s technical setup suggests a breakout to a new all-time high backed by massive whale accumulation might be imminent. With XRP holding steady above the crucial $2 support zone, the asset is consolidating near the 0.786 Fibonacci retracement level, a zone commonly associated with bullish trend reversals, according to an analysis by The Great Mattsby in an X post on January 10. In this case, a breakout above the 0.886 Fibonacci level at $2.36 could serve as a launchpad for XRP to surge toward its all-time high. The analysis highlighted XRP’s current strength, which remains above the Ichimoku Cloud, a key indicator that signals a bullish trend. The cloud acts as a support zone, helping to cushion XRP against potential downward price movements. XRP price analysis chart. Source: TradingView/The Great Mattsby Additionally, XRP is trading above the Conversion Line ($2.33) and Base Line ($2.31), reinforcing the strong upward momentum and overall trend stability. The Conversion Line represents short-term price momentum, while the Base Line indicates longer-term price equilibrium, supporting a bullish outlook when the price is above them. Regarding the next price movement, the trading expert noted that XRP might briefly revisit the upper boundary of the Ichimoku Cloud around $2.35 before making its decisive move upward. Should the price break above $2.36, it could ignite a rapid rally to new all-time highs, which he believes might be just days away. “This daily chart suggests that $XRP might just be weeks, if not days away from a breakout towards all-time highs,” the analyst stated. XRP’s price path to $3 Meanwhile, the bullish outlook is also shared by another cryptocurrency trading analyst, pseudonymously known as Captain Faibik , who, in an X post on January 11, suggested that the Ripple -affiliated token might target $3.66. XRP price analysis chart. Source: TradingView/Captain Faibik This optimism is backed by the fact that XRP has broken out of a descending channel, signaling a bullish shift in momentum. The breakout follows weeks of consolidation just above the $2 mark, with XRP now trading near the channel’s upper boundary. Similarly, on-chain data could offer hints about what’s next for XRP. Specifically, data shared by prominent analyst Ali Martinez on January 10 noted that XRP whales have been on a significant buying spree, accumulating approximately 1 billion tokens in just 48 hours. XRP whale transactions. Source: Santiment/Ali_charts Historically, such accumulation often signals increased confidence in an asset and has frequently preceded major price breakouts. It’s worth noting that XRP has previously struggled to breach the $3 resistance zone despite breaking out of a prolonged consolidation period below $1. This earlier move was spurred by optimism about Donald Trump’s election and his perceived positive impact on the cryptocurrency space. To this end, market players believe XRP could extend gains under the Trump administration amid anticipation of crypto-friendly policies and regulators that might lead to more use cases for XRP through its parent company, Ripple. For instance, Ripple’s ability to power transactions could find more applications after David Stryzewski, CEO of Sound Planning Group, claimed that Bank of America (NYSE: BAC ) had been using XRP for 100% of its internal transactions. XRP price analysis At the time of reporting, XRP was trading at $2.36, having rallied by almost 2% in the past 24 hours. Notably, the token has been weighed down by the general bearish cryptocurrency market sentiment on the weekly chart, plunging 3.5% over the same timeframe. XRP price analysis chart. Source: Finbold As things stand, XRP exhibits a bullish bias, considering the asset shows moderate volatility at 5.20% and remains above the 50-day simple moving average ( SMA ) of $2.14. This bias extends to the long-term outlook, as the value remains well above the 200-day SMA of $0.96. The 14-day Relative Strength Index ( RSI ) sits at 54.46, indicating neutral momentum. However, XRP could face some volatility in the coming weeks as Ripple plans another periodic unlock of the asset , with almost $700 million worth of XRP set to hit the market in January. Featured image from Shutterstock The post XRP ‘just days’ away from all-time high breakout, according to analyst appeared first on Finbold .
