Although XRP has yet to make a decisive move above the $2.20 resistance level, technical indicators suggest the asset could be on track to reach a new all-time high near $4.
After initially dropping below the $2 spot, the asset has since made a recovery, aligning with the broader cryptocurrency market sentiment to trade at $2.19 as of press time, down 0.26% in the past 24 hours. However, the weekly chart shows a solid gain of 12.7%.
XRP’s price path to $4
Now, according to analysis by BA_Investments, this bullish outlook is based on the fact that XRP recently broke out of a long-standing price range between $0.12 and $1.97, a range it had been trapped in since 2018.
This breakout, which occurred in November 2024, marked a notable shift in market sentiment and has since held firm, with the token currently trading above a key support zone between $1.60 and $1.97.
As long as XRP remains above this support, the asset is considered to be in bullish territory, with room for further upside.
Still, the analyst noted that ongoing legal uncertainty between Ripple and the Securities and Exchange Commission (SEC) could limit price momentum. Following recent setbacks in the case, Ripple leadership has expressed a commitment to resolving the legal battle “once and for all.”
Despite the overhang, the longer-term outlook remains positive. A price target of $4.10 has been projected based on historical resistance levels and market structure. Achieving this milestone could unlock further price discovery, especially if investor sentiment improves and legal clarity is achieved.
XRP mid-term price target
Adding to the bullish sentiment, pseudonymous crypto analyst Captain Faibik shared a similar outlook in a June 29 post on X.
He suggested that XRP could realistically climb to $4 in the mid-term, citing strong accumulation activity ahead of a potentially explosive rally in Q3.
His analysis revealed a symmetrical triangle formation on the daily chart, often a precursor to major breakouts following extended consolidation periods.
According to Captain Faibik, XRP is nearing the apex of this pattern, which is typically a sign of impending high volatility and directional movement.
The chart shows tightening price action between ascending support and descending resistance, with building momentum and a mid-term target of $4.60.
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