Crypto analyst Crypto Patel outlines a long-term setup where the XRP price moves through a broad accumulation cycle spanning 2018 to 2024. As seen from the chart, a long downward wedge pattern is formed with declining selling pressure as the buying side absorbed the supply side.
The XRP price was repeatedly testing the support level but failed to breach the resistance level. During the middle of 2024, the XRP price moved past a declining trend line, which may mean that the bearish downtrend could soon end.
It is said that the Fair Value Gap supports the XRP price of $1.20. It is crucial for the buy orders above $1.00 and below $0.70 to play their roles for the entry. The range from $2-$3, which was earlier a resistance level, now serves as the support level.
Source: X
XRP Price Projection Model Suggests Gradual Expansion Toward $10
In the long-term outlook on XRP price, there are many possible upward movements. A mid-cycle breakout may lead to an uptrend toward the $3-$4 level, indicating a healthy continuation. In good market conditions, a broader breakout may result in a gain towards the $9-$10 level.
According to Crypto Patel, $10 seems like a feasible goal for the XRP price in the long term due to the structure, liquidity, and cycles. The prediction of $50 seems extremely unrealistic, according to Crypto Patel, since it would entail massive adoption all over the globe.
The opinion stresses that it is vital for the XRP price to be above the important support at $2 to form a bullish setup. The cycles of accumulation and breakout are pointed out, implying several bull runs for the XRP price until 2027–2030.
Also Read: XRP ETF Records $22 Million Inflows as Capital Rotation Intensifies Activity
Whale vs Retail Data Shows Hidden Accumulation Pressure
According to CW’s on-chain analysis, the XRP Whale vs. Retail Delta is 0.45, indicating that whales have a higher long position compared to retail investors. The dataset spans from May 15 through May 25, analyzed in 15-minute intervals.
During the early part of the period, there was a sharp spike in the activities of the whales while XRP continued to trade between $1.45 and $1.50. During May 16 and May 20, however, the activities of the whales declined while XRP dropped in value.
Source: X
The delta trend started to stabilize from May 20 and went up, with high activity in whales being seen starting May 23–25.
While this happened, the price trend of XRP stabilized, which could mean that the pressure to sell is somehow contained. The continued high activity of whales amidst stable prices implies accumulation rather than distribution.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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