XRP, the cryptocurrency associated with Ripple, is currently at the center of significant market anticipation. Renowned market analyst XRPunkie has shared a forecast indicating that XRP is on the brink of a substantial price breakout. This prediction is based on a powerful technical formation observed on the monthly XRP chart, which suggests an imminent surge.

XRP has recently escaped a multi-year descending wedge formation, with its price surging above the $0.60 mark to a high above $3.00. Currently, XRP is trading at approximately $2.27 and continues to form above crucial moving averages, including the 21-period EMA and 33-period SMA, which have become strong support levels. This technical setup is seen as a bullish indicator, reinforcing the expectation of a breakout.

XRPunkie has outlined key Fibonacci extension levels derived from the asset’s previous breakout to help investors plan potential exits during the surge. These levels include $6.45 on the 1.618 extension, $8.90 on the 1.786 extension, and $13.42 on the 2.0 extension. These areas are closely watched as potential profit-taking regions should the breakout occur as anticipated. The analyst has emphasized that these estimates are not random but are based on XRP’s strong reaction at such extension levels in previous cycles.

In addition to the technical setup, developments within Ripple’s ecosystem are also bolstering the bullish outlook. The rollout of Ripple’s RLUSD stablecoin and the expanding use of the XRP Ledger for real-world asset tokenization have increased market confidence. On-chain data further supports this optimism, showing rising user activity and lower selling pressure, both of which are favorable indicators.

XRPunkie has challenged bearish views, asserting that the current technical and market landscape no longer supports a negative bias. With XRP holding strong above $2.00, many investors are positioning for what could be the next primary phase of the asset’s growth. As XRP trades within a tight consolidation pattern, anticipation is building across the market. With technical patterns aligning and momentum accelerating, XRP may be on the verge of printing a decisive “God candle” breakout that could redefine its market trajectory.