Analyst Predicts Big XRP Price Rally Based On This History. Here’s why

XRP continues to maintain its position above the $2 mark, a steady performance that the market is closely observing. This current price action is drawing comparisons to its previous prolonged consolidation phase between $0.50 and $0.60.

Crypto analyst Cobb (@Cobb_XRPL) recently pointed out this new trading range in a social media post, which included a chart illustrating XRP trading at $2.04.

Cobb commented, “$2.00 is truly the new $0.60 for XRP.” This statement suggests that XRP has entered a new market phase, with $2 now recognized as a significant level. Some analysts consider this price point a crucial buying opportunity, and Cobb anticipates a period of consolidation before a substantial price increase.

A New Support Level Forms

The comparison to XRP's earlier consolidation period between $0.5 and $0.6, which lasted from early 2022 to late 2024, invites a deeper analysis. This range built significant upward pressure until the market experienced a breakout in late 2024. Following this breakout, XRP saw a surge of more than 500%, pushing its price above $3 for the first time since 2018.

This rally significantly shifted long-term market sentiment, creating stronger expectations for similar performance when the asset establishes a new base. Throughout much of 2024, XRP has been defending the $2 support level after the initial wave of gains. Buyers have consistently stepped in whenever the price approached this mark.

A Repeating Pattern

XRP's current behavior strongly mirrors its previous pattern observed between $0.50 and $0.60. Cobb highlighted this similarity to illustrate how historical market performance could repeat itself. His analysis suggests that a period of stability is now setting the stage for another significant price movement.

The current price structure around $2 appears robust, and a strong base often provides a clear path for future growth once momentum shifts. The previous major breakout occurred after XRP maintained its ground for an extended period. The current consolidation phase is shorter, leading to speculation about whether the next price surge will match the previous scale or present a variation of it.

Historical Behavior Shapes Expectations

The prior breakout has provided analysts with a concrete reference point. A surge exceeding 500% from the previous $0.60 ceiling propelled XRP beyond $3. Applying this same logic to the current situation, the calculation shifts to the new base at $2. A 500% increase from $2 would set a price target of $12.

Cryptoinsightuk, a respected analyst, recently projected a $12 target for XRP. Achieving this target would elevate XRP's market capitalization to approximately $724 billion, potentially surpassing Ethereum and making it the second-largest cryptocurrency by market value.