XRP approaches third retest of 8-year resistance, eyes $8 to $13 targets

XRP has continued to trade beneath a significant resistance level for more than eight years, drawing heightened attention from technical analysts. ChartNerd, a well-followed crypto analyst, has highlighted that XRP is now nearing a third major retest of the trendline that has historically defined the asset’s long-term price behavior.

The critical eight-year trendline

ChartNerd’s technical analysis indicates that, since 2017, a descending trendline has determined each of XRP’s significant market moves. The asset previously touched this line in 2020, pulled back, and then tested it again through 2022 and 2023, before briefly breaking above in late 2024. According to ChartNerd, the current setup may be a repeat of past cycles, with XRP now heading for a third major retest of this structural benchmark.

Drawing a parallel to an earlier period, ChartNerd points out that the 2013-2017 market cycle featured four key contact points against a similar structure, which preceded a considerable rally. This historical context, he argues, supports the idea that XRP could be preparing for an aggressive price move if history repeats itself.

He notes this is only the fifth time XRP has retraced more than 70% from its previous peaks, classifying such instances as potential accumulation opportunities for long-term investors. ChartNerd places his near-term price targets for XRP at $8 and $13, while also mentioning that a 1.618 Fibonacci extension could see the asset reach as high as $27.

XRP has historically established cyclical baselines spanning multiple years before experiencing sharp vertical expansions. This retracement, according to ChartNerd, could represent one of the biggest setups yet, as the market approaches another major retest following a familiar multi-contact pattern identified in previous cycles.

Converging analyst views

Analyst Moon Lambo has discussed ChartNerd’s findings in a recent update, emphasizing that several independent analysts are identifying similar technical patterns for XRP. He stressed the importance of monitoring the key resistance zone and agreed that projections allow for a possible dip below $1 before any sustained upside reversal occurs.

Moon Lambo explained to his audience that, “markets find bottoms, and then they reverse ultimately,” reinforcing the broader market expectation that the higher timeframe structure remains intact even if XRP experiences further weakness.

Price action and asset diversification

ChartNerd describes the present environment as one with unmistakable price discovery pressure, given XRP has traded under resistance for more than eight years. This ongoing compression, he states, increases the likelihood of a significant breakout as market tension builds.

While the analyst stops short of projecting gains on par with earlier cycles, he describes $8 to $13 as his main technical targets, with $27 presented as a less probable, but technically possible, extension provided by the Fibonacci framework. Both ChartNerd and Moon Lambo advise that this price range warrants careful observation.

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ChartNerd labels the current XRP market setup as one where price discovery pressure is undeniable. He argues that, after more than eight years beneath resistance, the technical structure is primed for a potentially powerful move higher, reinforcing the significance of the current zone for market participants.

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