XRP News Today: XRP's Yearly Candle 13 Signals Potential 800% Rally to $17

XRP, a prominent cryptocurrency, is currently at a critical juncture as analysts closely monitor its 12-month candle structure, known as the "Yearly Candle 13." This structure is significant because it has historically signaled both explosive rallies and lengthy consolidation phases for XRP. According to analyst EGRAG CRYPTO, the current Yearly Candle 13 could serve as the "ignition point" for a massive rally, potentially driving XRP's price to a range of $17 to $22. This prediction is based on the cryptocurrency's long-term chart, which has been raising eyebrows across the crypto community due to its potential for a significant breakout.

The Yearly Candle 13 is a technical analysis tool that provides insights into the price movements of a cryptocurrency over a 12-month period. By examining the candle's structure, analysts can identify patterns that may indicate future price trends. In the case of XRP, the current Yearly Candle 13 suggests that the cryptocurrency is poised for a breakout, which could lead to a substantial increase in its value. This potential rally is particularly noteworthy given XRP's history of both rapid price increases and prolonged periods of consolidation.

EGRAG CRYPTO identifies the current yearly candle Candle 13 as a potential breakout that could lead XRP to new heights. This development comes amid heavy market speculation and technical formations that hint at a sharp move. Significantly, XRP is trading around $2.28, down slightly in the past week, but still well above major support levels. The 12th yearly candle set the stage for a bullish surge. This candle formed a textbook Bullish Engulfing pattern that started building momentum as far back as Candle 5. From Candle 5 to Candle 11, price action consistently closed higher, setting up a powerful formation on the yearly chart. Candle 12 capped this with strong bullish momentum, signaling a shift in long-term sentiment.

Now, Candle 13 appears to be the ignition point for the next phase of XRP’s trajectory. If the historical 800% gain from Candle 9 (2021) is repeated, XRP could surge to nearly $17. This potential aligns closely with key psychological targets at $13 and $22, levels identified by EGRAG CRYPTO. These ranges are not arbitrary. They sit between significant resistance and breakout zones, suggesting a real possibility of reaching double digits.

Meanwhile, adding a layer of immediate caution, STEPH IS CRYPTO highlights an equally compelling development. A massive liquidation wall around the $2.00 mark remains untouched. Over $564 billion in leveraged positions and stop orders sit at this level. Despite a minor correction recently, XRP has not tested this price zone. If it does, the market could see a rapid and violent liquidation event. This could either flush out weak hands or fuel a strong reversal, depending on the outcome. Besides the liquidation threat, resistance near $2.50 continues to cap price advances. Breaking above $3.40, however, would suggest strength strong enough to validate long-term bullish predictions.