XRP has demonstrated resilience in recent trading sessions, gaining 0.5% as cryptocurrency markets took a breather following the Federal Reserve’s latest interest rate decision. While the central bank maintained its current federal funds rate as expected, Chairman Jerome Powell’s confirmation of two anticipated rate cuts this year helped stabilize market sentiment amid rising geopolitical tensions in the Middle East. Despite experiencing a 3.2% decline over the past week, XRP’s technical indicators suggest significant upside potential as regulatory uncertainties that previously hindered the token have largely dissipated.
Prominent crypto analyst Crypto Beast, who commands a following of 727,000 users on X, has identified a compelling bullish flag pattern in XRP’s price action that could trigger substantial gains for Ripple’s native asset. The analyst’s technical analysis points to a baseline price target of $10 following a confirmed bullish breakout, representing a significant appreciation from current levels. This optimistic forecast is supported by XRP’s ongoing consolidation period, which began after the token’s sharp rally following Ripple’s legal victories against the SEC and the appointment of crypto-friendly Paul Atkins as the agency’s new leader.
The current consolidation phase, evident on XRP’s 4-hour chart since Monday, shows the token trading within a defined range between $2.33 and $2.10. This sideways movement typically precedes major price movements, though the direction remains uncertain until a clear breakout occurs. For the bullish scenario to materialize, XRP would need to decisively break above the $2.35 resistance level with strong trading volume, potentially triggering a retest of the critical $2.65 resistance zone and setting the stage for further upward momentum.
While XRP has yet to deliver the explosive gains some investors anticipated this year, the token’s technical setup suggests patience may be rewarded. The cryptocurrency’s improved regulatory landscape, combined with favorable consolidation patterns and analyst optimism, creates a compelling case for potential price appreciation. However, traders should monitor volume confirmation and key resistance levels closely, as the success of any breakout attempt will depend on sustained buying pressure and broader market conditions remaining supportive of risk assets.
