Finance Expert: XRP Looks Ready for Price Discovery. Here's why

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XRP has entered a phase that long-term traders recognize. Crypto analyst Kaleo (@CryptoKaleo) recently shared a chart highlighting a repeating structure that has played out once before in the asset’s history.

His post stated that XRP “looks ready for price discovery.” The chart spans more than a decade, focusing on how XRP behaves after breaking major technical barriers.

XRP’s Long-Term Breakout Structure

The structure begins with a long-term descending trendline. XRP respected that trendline for years. In 2017, the digital asset finally broke above it. That move changed the market structure. XRP then pushed through its previous all-time high.

The asset’s upward move paused briefly after that breakout, entering a consolidation phase. However, the pause did not last long, and the digital asset quickly accelerated to a new all-time high. Kaleo’s chart suggests the same sequence has now returned.

The Long-Term Breakout Repeats

In late 2024, XRP broke above another multi-year descending trendline. The angle and duration closely resemble the 2017 breakout. The asset’s price followed with a strong rally, pushing the asset above $3 for the first time since 2018.

While the asset struggled following this surge, it regained its momentum toward the middle of the year. This move culminated in a new all-time high for the asset in July, confirming a repeat of the trend from 2017.

After reaching that new peak, XRP entered a consolidation range. This behavior mirrors the post-breakout phase from the previous cycle shown on the chart. The consolidation appears controlled, and sellers have not forced a deep retracement without a swift recovery.

A Key Level Now in Focus

XRP recently experienced an impressive rally, rising to $2.39. If the asset can stage another rally and overcome $2.4, it could open the door to much higher targets. In the earlier cycle, the break above consolidation resolved quickly, and the price advanced without extended pullbacks. Kaleo’s comparison implies that a similar price discovery phase could follow if XRP clears the same type of resistance now.

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