XRP, the cryptocurrency associated with Ripple, has been experiencing a period of consolidation following a significant surge. Currently trading at $2.27, XRP has seen a nearly 2% increase in the last 24 hours and over 3% growth in the past week. This momentum is driven by heightened speculation from technical analyst Crypto Michael, who has highlighted XRP’s long-term consolidation phase.

According to Crypto Michael, XRP has been compressing within a symmetrical triangle for seven years before breaking out in late 2024. This breakout resulted in a 700% surge from approximately $0.60 to over $2.00. Since then, XRP has been range-bound for seven months, a phase Michael describes as “healthy consolidation.” The chart indicates that prices are stabilizing just above key resistance levels, suggesting that this consolidation phase is nearing completion.

XRP’s technical stability is occurring while Bitcoin hovers near its own historic resistance—an 8-year trendline. Michael suggests that Bitcoin’s move above this line could serve as the macro trigger that lifts altcoins, such as XRP, into a fresh leg higher. This correlation between Bitcoin and XRP is crucial for understanding the potential for a bullish breakout in XRP.

On the 4-hour chart, the XRP price prediction appears bullish. XRP has reclaimed the $2.2175 level, now acting as short-term support. The price is also riding along a well-defined ascending trendline from late June, creating a pattern of higher lows. This bullish structure is reinforced by a recent bullish engulfing candle and a rising Relative Strength Index (RSI), which now approaches the 60 mark but remains below overbought levels.

The 50-SMA currently sits at $2.2175 and has been reclaimed, a positive signal for trend continuation. XRP is also reclaiming the mid-range of its prior swing, positioning it well for a breakout above $2.285. Key technical takeaways include XRP/USD trading bullish above the 50-SMA and ascending trendline, with the RSI rising, indicating growing bullish momentum. Resistance levels are at $2.285, followed by $2.337 and $2.406, while support levels are at $2.2175, $2.146, and $2.080.

If XRP holds above $2.2175 and gains traction beyond $2.285, traders could see a push toward the $2.40–$2.47 range. This setup favors breakout traders looking for confirmation and continuation. As XRP approaches $2.285 resistance, volume and candle structure will be key. Entry points for a long position are suggested between $2.27 and $2.29 on a strong breakout close, with targets set at $2.337 to $2.406 and a stop-loss below $2.21 to manage downside risk.

With the RSI rising, price above trendline support, and consolidation nearing its end, XRP appears well-positioned for a decisive move—especially if Bitcoin breaks its own resistance in tandem. This analysis underscores the potential for a significant upward movement in XRP, driven by both technical indicators and broader market dynamics.