As XRP Breaks Out, Analyst Says No Need to Tell You What Comes Next

Renowned analyst Mikybull believes the market may still be underestimating the magnitude of the incoming XRP price rally.

In a tweet, Mikybull shared a chart showing that XRP has broken out of a months-long falling wedge pattern, igniting fresh bullish momentum. On the two-day chart, the token pushed above the $3.05–$3.10 resistance zone, a move technical analysts have been anticipating as a turning point.

XRP “Mega Breakout” Unfolding

In his update, Mikybull noted that XRP was experiencing a “mega breakout” and implied that significant movement was expected to follow. “I don’t need to tell you what comes next,” he said.

Now, analysts believe XRP is set for more gains. Important immediate levels to watch soon are $3.40 and $3.66. These are the price levels at which it previously faced rejection.

Overcoming these would open the path for XRP to retest the stubborn $3.84, a level it has not seen since 2018, potentially leading to price discovery at $4 and beyond.

What Will the XRP Mega Breakout Deliver?

While Mikybull remains a permabull on XRP, forecasting a mega breakout, he has consistently refrained from specifying how high he expects the price to go. However, many other analysts in the XRP community have not been shy about disclosing their ambitious expectations.

Last month, after XRP initially broke above $3 and showed strong bullish momentum following a dip to $2.60, analyst Matt Hughes projected a rally ranging from $8.30 to as high as $26.

Meanwhile, another well-known XRP analyst, EGRAG, shares a similar $27 target, while others like Dustin Layton are looking for a $50 XRP. These price targets suggest around 3x to 16x price performance for XRP from its current position.

While some consider the highest targets ambitious, the bullish sentiment draws inspiration beyond technical charts.

Foundations for the Outlook

Many are hopeful this month due to upcoming SEC decisions on XRP ETFs and Ripple’s bank charter approval, both of which could drive significant price gains. Approval could open regulated access for investors, potentially sparking a strong price surge similar to the impact seen with past Bitcoin ETFs.

In the broader market context, crypto commentator Ash Crypto predicts that if Bitcoin reaches $150,000 or $200,000 by the end of 2025, XRP could follow with gains of $5 to $8.

His outlook highlights XRP’s potential to outperform Bitcoin’s momentum, especially with XRP ETFs launching soon.