XRP traded mostly sideways on Monday after a volatile week during which the cryptocurrency market was broadly pushed down. Over the past seven days, XRP lost about 1%, moving in line with the overall market slump.
Analyst Javon Marks points out that XRP is nearing a key technical threshold. He suggests that breaking through this level could spark a significant upward move, possibly pushing XRP's price beyond $15. This forecast is based on XRP's tightening trading range, a pattern often signaling increased volatility once resistance breaks.
Supporting this view, analyst Celal Kucuker notes that the XRP/BTC pair is approaching the upper edge of a descending channel seen over the long term. A breakout here could enable XRP to outperform Bitcoin during the upcoming market cycle, potentially leading to returns multiples higher than Bitcoin’s current gains. According to Kucuker, XRP might exceed $12 by the time Bitcoin reaches a new all-time high.
Meanwhile, analyst MikybullCrypto views XRP’s consolidation phase as a sign of strength. He expects the ongoing tight trading to end soon, paving the way for a rally targeting $6 initially. He calls the current chart setup one of the more bullish ones among major cryptocurrencies.
Despite these promising indicators, XRP remains in consolidation near $1.08 at press time, down roughly 0.4% in the previous 24 hours. This sideways trend is seen by many analysts as the foundation for a potential breakout rather than a weak point.
