The price of XRP is again in the spotlight, as a new technical analysis indicates that the cryptocurrency may be on the verge of a significant price explosion to $5.9 and beyond. According to the analyst behind this prediction, the recent price behavior of XRP is not a sign of weakness, but rather a period of strategic consolidation that is #BinanceAlphaAlert rebuilding momentum for the next big increase.
Consolidation Phase to Drive XRP Price Explosion. Master Ananda, a cryptocurrency analyst on TradingView, released a detailed analysis of XRP on May 15. The analysis highlights the current price action of the cryptocurrency and predicts its next upward move. Starting with its historical price behavior, the analysis emphasizes a strong rally that occurred in 2024, particularly in November and December, when XRP printed long green candles indicating strong momentum. After reaching a peak, XRP entered a consolidation phase, during which the price action formed a pattern similar to a symmetrical triangle or wedge. This is marked with red dashed lines on the chart, showing indecision in the market as the price was suppressed.
Master Ananda revealed that after this triangle formation, XRP broke out around April 7, 2025 — a date now marked as a potential turning point in the cryptocurrency market cycle. Since then, weekly candles have consistently closed in the green, indicating renewed upward momentum. Adding to Master Ananda's bullish case for the price of XRP are the Fibonacci retracement and extension levels drawn from the last major swing high to the recent low. These levels help identify potential resistance and target zones for the next leg up. Notably, the retracement levels were marked around $2.05 (0.236 Fib), $2.39 (0.382 Fib), and $2.71 (0.618 Fib), culminating at the previous peak of $3.40. The Fibonacci extension projections have potential targets at $4.50 (1.618 Fib), and the highest level is at $6.29 (2.618 Fib). Currently, the trajectory of the curved green arrow on the chart shows a more likely price target around $5.9. However, XRP will still need to overcome the mentioned retracement levels and the resistance at $4.5 to reach that level.
The main point of this analysis is that XRP is sending strong bullish signals, and its current consolidation is seen as a precursor to further growth. The asset is approaching a decisive zone, as cryptocurrency analyst Egrag Crypto forecasts an imminent breakout from a tight consolidation range, within which the cryptocurrency has been trading for months. The analyst's chart shows a purple zone, which he described as a 'Pandora's box'. This zone represents a critical price range that acts as both resistance and support, effectively trapping the price action. Egrag Crypto emphasizes that a breakout above or below this range could trigger high volatility and significant momentum for XRP. He frames this as a crucial moment where major, possibly explosive, movements are expected. #XRPRealityCheck