XRP's Consolidation Pattern Points Toward Major Breakout – $20+ Target in Focus

Crypto analyst Amonyx has highlighted a significant long-term consolidation structure forming on XRP’s monthly chart. The technical setup reveals a bullish pennant that has been building over several years, and the asset is now approaching a critical breakout point. Currently trading at $1.40 with a 24-hour decline of 5.03%, XRP sits near the upper boundary of this extended compression pattern, setting the stage for what analysts believe could be a substantial price move.

Building Compression After Years of Consolidation

The chart illustrates XRP holding within a tight pennant structure that has taken years to establish. The formation shows lower wicks that repeatedly tested support, while upper wicks consistently rejected at the same trend line—a hallmark of compression before significant moves. The pattern stretched from 2018 through 2024, representing an extended consolidation phase. When XRP broke above the $1.04 support level in late 2024, it confirmed the structure remained intact. The current price cluster hovers near the center of the pennant, and the asset has begun pressing against the upper boundary, signaling the pattern may be nearing completion.

Historical Precedent – The 2017 Pattern Repeating

Amonyx compared the current formation to the pennant that preceded XRP’s 2017 surge, when the asset experienced rapid expansion. That earlier pattern demonstrated similar compression characteristics before delivering a powerful breakout. The historical comparison carries weight: the 2017 expansion generated approximately 5,250% in gains. The current formation mirrors this structure in many ways, though the present pattern is larger and longer, suggesting even stronger potential compression. This scale differential indicates more energy concentrated before the potential release, a pattern that has historically preceded substantial price advances.

Measured Move Projection – Path to Double Digits

Using the historical pennant as a measurement guide, Amonyx applied a similar calculation to the current pattern. The measured move analysis suggests XRP is targeting double-digit territory. While the analyst pointed to $20 as a psychological milestone for investors to prepare for, the technical projection displayed on the chart indicates a target of $64.38. This extends significantly beyond XRP’s previous trading ranges, reflecting the compression build-up that could fuel such an expansion. Such projections underscore the scale of price movement that could unfold once the breakout materializes.

Current Price Action and Breakout Mechanics

The chart documents XRP’s repeated tests of the pattern’s boundaries, with price consistently respecting the established trend lines. When the asset traded at $2.76 during Amonyx’s analysis, it was positioned well above the pattern’s lower support. The subsequent decline to $1.40 represents a pullback within the broader structure, yet the asset remains above critical support levels. This price action demonstrates the pattern’s resilience through multiple tests. With XRP now pressing against the upper resistance again, analysts anticipate the consolidation phase may be concluding, potentially paving the way for accelerated price action in the coming period.