- A triangle consolidation pattern is forming, similar to its pre-rally structure in 2017.
- Daily active addresses hit 295,000, while whale wallets holding over 1 million XRP reached 2,700.
- Trading volume surged 157% to $5.26 billion, hinting at rising investor interest.
XRP’s price action has captured renewed attention this week following a technical analysis comparison that suggests the token could be poised for a breakout exceeding 500%.
Crypto analyst Mikybull Crypto posted a chart showing XRP’s current consolidation trend mirrors the pre-rally structure observed in 2017, when the token soared to a then-record high of $3.38.
The analyst argues that a similar pattern is forming again, one that could push XRP to $14 if conditions align.
The chart, based on three-week candles, implies a potential rally that could unfold over the coming months, supported by macro developments such as Ripple’s ongoing court battle with the SEC and surging on-chain metrics.
XRP’s consolidation mirrors the 2017 pre-rally setup
The analysis by Mikybull highlighted two triangle consolidation patterns—one from late 2017 and one from 2025.
In both instances, XRP appeared to trade sideways over several weeks before making a sharp upward breakout.
In 2017, the coin surged 1,300% in less than a month, peaking at $3.38. XRP is currently trading at around $2.19.
If the same pattern repeats, Mikybull suggests the coin could hit $14—a 540% increase from current levels.
The timing of this technical setup is particularly significant as XRP has remained rangebound since March, lacking the strong momentum seen in other large-cap cryptocurrencies.
However, with historical patterns now aligning and technical indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) signalling a potential shift in momentum, analysts are watching closely for a breakout.
Legal battle with SEC reaches critical stage
The timing of this potential breakout also coincides with a critical period in Ripple’s legal fight with the US Securities and Exchange Commission.
The SEC case, which began in 2020, is currently working to settle the case.
Both parties have submitted a revised settlement motion, but no final approval has been issued by the court.
The lawsuit has been a key overhang for XRP, capping its upside over the past few years.
However, a resolution in Ripple’s favour could remove regulatory uncertainty and act as a catalyst for price acceleration.
Some market watchers suggest the legal clarity may attract institutional capital back into XRP, which has lagged competitors like Solana and Ethereum in recent market cycles.
On-chain data points to rising activity and investor interest
Data from blockchain analytics firm Santiment shows strong activity on the XRP network, reinforcing the bullish thesis.
Daily active addresses surged to 295,000 this month, a sevenfold increase from the three-month average of 40,000.
Whale wallets have also risen to historic highs, with over 2,700 addresses now holding at least 1 million XRP each.
This represents the highest concentration of large holders in XRP’s 12-year history.
Additionally, trading volumes climbed 157% to $5.26 billion in the last 24 hours, suggesting growing interest from retail and institutional traders.
Analysts note that such spikes in volume often precede major price moves, especially when aligned with positive sentiment and favourable macro triggers.
While the broader crypto market has shown mixed performance in recent weeks, XRP’s chart patterns and improving fundamentals are positioning it as one of the more closely-watched tokens heading into the second half of 2025.
