XRP News Today: XRP Shows Bullish Momentum with Three Hammers and Rockets

XRP, the cryptocurrency developed by Ripple Labs, has recently exhibited a series of significant price movements, characterized by three distinct hammers and three rockets. These patterns are technical indicators that suggest a potential reversal in the price trend. A hammer is a candlestick pattern that indicates a potential bullish reversal, while a rocket pattern signifies a strong upward price movement. The occurrence of these patterns in quick succession has sparked interest and speculation among traders and analysts.

The first hammer pattern emerged after a period of sustained downward price movement, signaling a potential shift in market sentiment. This was followed by a rocket pattern, which saw the price of XRP surge significantly. The subsequent hammer and rocket patterns further reinforced the bullish momentum, with each rocket pattern pushing the price to new highs. The final hammer pattern, which occurred after the third rocket, suggests that the upward trend may be nearing a temporary peak, as hammers often indicate a potential reversal or consolidation period.

Market analyst EGRAG Crypto has projected when the XRP uptrend will resume after identifying what he calls hammers and rockets on the daily chart. His analysis comes on the back of XRP’s consolidation phase, which began after a drop from the $3.4 top in mid-January. Specifically, after XRP collapsed from the $3.4 peak, it immediately relinquished the $3 mark and has since consolidated around $2 over the past five months.

EGRAG’s chart shows that XRP’s upswings and declines since November have led to what he calls “3 hammers” and “3 rockets.” Specifically, a hammer refers to the resistance presented by the bears when XRP attempts to break above the channel. Meanwhile, a rocket is the recovery push after XRP retests support at the channel’s lower trendline. Notably, each hammer (or roadblock) has eventually resulted in a price correction, while each rocket (recovery effort) has led to a push toward a breakout.

For context, XRP saw three rockets at $1.95 on Dec. 20, 2024, at $1.76 on Feb. 3, 2025, and then at $1.61 on April 7, 2025. However, the three hammers came in at $3.4 on Jan. 16, 2025, at $3.02 on March 2, 2025, and then most recently at $2.65 on May 12, 2025.

Following the three iterations of each pattern, EGRAG asked for audience opinions on whether XRP would break out or go lower. In his view, the next direction from here could be upward. According to him, XRP could break out from this channel or consolidation structure by mid-June, with the uptrend persisting until August to September 2025. However, his projection came up days before the Israel-Iran war began, which has since skewed the direction of the market. As a result of the conflict, this timeline could be delayed.

Meanwhile, EGRAG provided several immediate targets around the breakout from the descending channel. Specifically, XRP would need to breach the $2.6 resistance to break above the channel. From the current price of $2.16, XRP must rise 20.3% to reach this price mark. Following a breakout from the channel, XRP’s next immediate target could be the $3 psychological level, which it has failed to reclaim since March. Beyond this, the next target would be the yearly peak of $3.4. A break above this mark could open the door for greater price heights.

While EGRAG failed to present his ultimate targets for when the bull run resumes, he had in previous instances suggested that XRP could reach the $20 range this cycle. Most recently, he predicted that XRP’s top for this cycle could be $24. Meanwhile, last month, he predicted a possible XRP rally to $27. However, these are analyst's forecasts and should not be taken as actual content.

Analysts have noted that the recent price movements of XRP are likely driven by a combination of factors, including increased institutional interest, regulatory developments, and market sentiment. The cryptocurrency market is known for its volatility, and the rapid price movements of XRP are not uncommon. However, the occurrence of these specific patterns has caught the attention of many traders, who are now closely monitoring the price action for potential opportunities.

The future price movements of XRP will depend on a variety of factors, including market sentiment, regulatory developments, and the overall performance of the cryptocurrency market. While the recent price patterns suggest a potential bullish trend, it is important to note that the cryptocurrency market is highly volatile and unpredictable. Traders and investors should exercise caution and conduct thorough research before making any investment decisions.