XRP Expected to Breakout to $15, Analyst Predicts Major Rally

Crypto analyst CryptoInsightUK suggests that XRP may be entering a significant price phase, potentially reaching $15. Key points include:

  • XRP has broken from a six-year consolidation range.
  • The recent monthly close indicates structural strength over the last two market cycles.
  • Technical analysis predicts a target between $8.70 and $15 in the short-to-medium term.
  • The monthly Relative Strength Index (RSI) returning to the overbought zone historically precedes large rallies.
  • XRP's relative strength against Bitcoin shows strong positioning after bouncing from support levels.
  • XRP's dominance is stable within a significant range, indicating strength in market cap share.
  • Negative futures premiums since July 24 resemble setups before previous major rallies.
  • Chart structures and momentum indicators suggest potential for sharp upward movement with minor catalysts.

Current trading price for XRP stands at $2.92.