A new XRP price chart shared by market analyst Mikybull Crypto suggests the digital asset could be on the verge of a significant price rally similar to Zcash’s legendary 40x breakout. Setting modest price targets of $8 to $10, Mikybull’s projection comes as XRP consolidates around the $2 mark, a level that technical analysts believe could serve as the foundation for its next parabolic move.
XRP Price Pattern Repeating Zcash’s Legendary Rally Setup
Mikybull’s chart reveals a clear pattern in XRP’s price behavior across different market cycles. Since 2014, the cryptocurrency has followed a familiar sequence: a rounded-bottom buildup, a breakout above a long-term downtrend, and a period of sideways trading before each big rally.
The pattern first showed up between 2014 and 2017, contributing to XRP’s explosive rise to record highs during the 2017 bull market. Now, the chart shows a similar setup is happening again, but on a bigger scale. After almost five years of building up from 2018 to 2023, XRP has finally broken its long-term downtrend, creating a structure similar to the one preceding its previous significant surge.
The chart also highlights a flat trading range, marked in orange, which traders refer to as a reaccumulation zone. This stage typically follows a breakout and occurs when the market absorbs selling pressure before resuming its upward movement. It appears that XRP could be entering the same “calm before the storm” stage that came before Zcash’s 40x rally.
Analyst Targets $8–$10 As XRP Price Breakout Gains Momentum
Mikybull’s $8 to $10 price target is not random. It aligns closely with key Fibonacci and historical resistance levels dating back to XRP’s 2018 peak. If this pattern continues to play out, the XRP price could rise four to five times higher from where it is now, a move that supports Mikybull’s idea that XRP might repeat Zcash’s rally.
However, Mikybull isn’t the only one expecting a significant move in the XRP price. Another well-known market analyst, XForceGlobal, recently shared a similar view on X, saying, “I still think there is an extremely high chance that we are still going to hit our cycle targets of around $15–$30 per XRP this cycle.”
While Mikybull’s $8–$10 range suggests a cautious and achievable goal, XForceGlobal’s $15–$30 range indicates that XRP may have the potential for a multi-stage rally, where the price first hits moderate targets and then pushes even further as momentum builds.
Currently, XRP is holding above key support levels, moving sideways after breaking out of its long-term decline. If the pattern continues, XRP could be setting up for a rally like Zcash’s historic surge, with small gains just the first step in what might become a significant breakout.
Featured image created with Dall.E, chart from Tradingview.com
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