XRP (XRP) Price: Why This Six-Month Consolidation Could Fuel the Next Big Rally

TLDR

XRP price dropped 1.71% to $2.20 with trading volume falling 16.44% in the last 24 hours The token has been consolidating between $2.00 and $2.60 for approximately 190 days Analysts believe longer consolidation periods often lead to stronger price breakouts Key resistance sits at $2.30 with potential targets of $2.50, $2.65, and $3.00 Technical analysis suggests possible long-term surge to $25 based on Elliott Wave structure

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XRP trades at $2.20 at the time of writing on Thursday, down from $2.23 and marking a 1.71% decline over the past 24 hours. The daily trading volume decreased by 16.44% to reach $2,005,817,656.97.

XRP Price

The decline in both price and volume suggests potential shifts in market participant interest. XRP has gained 3.88% over the last seven days, maintaining a total market capitalization of $129,048,168,061.66.

The token has spent approximately 190 days consolidating within a range between $2.00 and $2.60. This extended sideways movement has frustrated both bulls and bears in the market.

The current consolidation period follows the cooldown from XRP’s rally that pushed the token to $3.40 in January. Since reaching that peak, the asset has struggled to maintain upward momentum.

Crypto analyst Sjuu notes that XRP recently bounced from support around $2.10, showing some resilience at lower levels. However, upper resistance zones near $2.60 and $2.90 continue to prevent breakout attempts.

Will $XRP ever get out of this never-ending range?

Already trading here for 190 days! Seems like ages!

Well, just remember, the longer the consolidation, the stronger the breakout! pic.twitter.com/c6RRccj0vv

— Sjuul | AltCryptoGems (@AltCryptoGems) June 4, 2025

The token dipped to $2.08 on May 31 before recovering to around $2.28. Current trading levels sit lower at $2.18 as the range-bound pattern persists.

Extended Consolidation Could Signal Strength

Market analysts suggest that prolonged consolidation periods often precede major price movements. This perspective draws from XRP’s historical performance, including a dramatic 6X rally between November 2024 and January 2025.

That previous rally occurred after XRP consolidated for seven years. The comparison suggests that current sideways movement could be building pressure for future price action.

Analyst EGRAG identifies $2.30 as a key short-term resistance level. A three-day candle close above this mark and the 21-day EMA could confirm a double bottom pattern.

#XRP – A Close Above $2.3 Shields the Double Bottom Pattern 💎🚀:

A strong close above $2.30 on the 3-day timeframe and above the 21 EMA will confirm that the Double Bottom is in play for #XRP, opening the door to potential targets around:

🎯 $2.50
🎯 $2.65
🎯 $3.00

As long… pic.twitter.com/bguB9ujpZe

— EGRAG CRYPTO (@egragcrypto) June 2, 2025

Breaking above $2.30 would require just a 7% gain from current levels. This breakout could trigger moves toward $2.50, $2.65, and potentially $3.00.

Technical Analysis Points to Higher Targets

Support at $2.07 remains crucial for maintaining the current bullish setup. This level has provided a floor for recent price action.

EGRAG’s analysis suggests XRP has potential for a 1,200% surge to $25 once bullish momentum develops. This projection relies on Elliott Wave structure analysis.

#XRP – Projecting Wave 5 (Target Range: $20 – $66):

🟣A Detailed Elliot Wave Count Analysis #XRP:
My analysis is grounded in mathematical principles rather than speculative hype. Let me show you how the Elliott Wave Theory is forecasting #XRP $20-$66.

🟣 Wave 1:
This initial… pic.twitter.com/D04IpqPIcp

— EGRAG CRYPTO (@egragcrypto) March 1, 2025

The Elliott Wave framework indicates XRP may have completed its corrective Phase 2. The token could be entering a bullish Wave 3 phase.

XRP’s correction followed its January peak of $3.40, with a subsequent dip to $1.60 before rebounding above $2.00. Recent price action remains sluggish despite technical indicators.

Analyst XForceGlobal presents an even more optimistic outlook, targeting $40 for XRP. This analyst considers $10 a conservative estimate based on the same Elliott Wave structure.

Current market conditions show bearish sentiment remains a challenge for upward movement. However, technical patterns suggest potential for future rallies once momentum builds.

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