XRP is currently flashing the bullish signal of a huge impending rally, with analysts calling for XRP to ascend as much as 530% to $14. The bullish scenario boils down to a very specific technical setup. It’s similar to XRP’s chart pattern from 2017, which resulted in a massive breakout to all-time highs. Other analysts believe that XRP has the potential to surge as much as 1,100% to reach $25 in the United States if things go their way.

Technical Indicators and Price Targets

The upper target for XRP is $14, based on a bull pennant breakout. One analyst claims today’s XRP price action looks a lot like the setup back in 2017 on the weekly time frame. They hype it up, writing, “2017 rally vibes incoming,” with respect to XRP.

XRP bulls are eyeing a breakout above resistance at $2.27 the 50-day simple moving average (SMA). A concrete break above this level might indicate the beginning of a more durable recovery.

In order for the XRP/USD pair to continue its upward breakout, it needs to recapture the 200-day SMA support. Furthermore, it must reclaim the resistance area from $2.37 to $2.65 as fresh support. Breaking above these resistance levels is key for XRP to build any bullish momentum.

Resistance Levels and Breakout Points

XRP must clear resistance at $2.65 to trigger another extended recovery. Breaking past this resistance could send XRP soaring to over $3.00, a value it has been trading under since Feb. 1.

If the price manages to break successfully above $2.65, it will validate the bullish premise. Maybe it’s the beginning of a run-up to our $14 long-term target. XRP’s potential to surpass these challenges will be a deciding factor in where XRP price will head in the future.

Relative Strength and Market Sentiment

RGX the relative strength index (RSI) of XRP has mirrored this bullish move with the RSI emerging from the oversold territory at 29 to 52. This upward movement in the RSI indicates an increase in buying pressure and a shift towards positive market sentiment.

The recent increase in RSI shows a reawakening of investor interest and may point to the start of a longer-term upward trend. In the meantime, XRP is still in the process of finding its way through significant resistance. Pay attention to the RSI, as it will validate any upside strength.