XRP News Today: XRP Breaks 7-Year Resistance, Bullish Momentum Builds

Renowned crypto analyst Crypto Michael has reignited bullish momentum around XRP, predicting that its next move will be “extremely parabolic.” In a recent post on X, he confidently stated that XRP’s lengthy consolidation phase is now over and that the launch phase is imminent. The chart he shared bears a striking resemblance to one he posted in July 2024, reinforcing a thesis he has built over the past year, that XRP is on the verge of one of the most explosive breakouts in cryptocurrency history.

In his 2024 post, Crypto Michael identified what he called a “7-year bull pennant,” a rare and powerful long-term formation stretching from 2017 to 2024. Such extended consolidations are highly unusual in crypto, where shorter cycles typically dominate. At the time, he remarked, “In all my years of trading, I have NEVER seen a 7-year long bull pennant,” calling it a once-in-a-generation setup. One year later, the pattern has played out exactly as forecasted. XRP has broken decisively above its multi-year resistance and is now consolidating above $2.25, a major milestone.

The breakout hasn’t been chaotic or short-lived. Rather, XRP’s rally from under $0.60 to its current levels above $2.25 has come with structure, volume, and strong follow-through. Michael described the process with a familiar phrase in technical trading circles: “Slowly, slowly, then all at once.” The idea is that price moves gradually during accumulation phases, but when long-term resistances are finally broken, explosive rallies tend to follow. XRP now sits above its 7-year resistance, signaling the possibility of a vertical move ahead.

The bullish technicals are matched by favorable fundamentals. Ripple, the company closely tied to XRP’s utility, has expanded aggressively into tokenization, enterprise blockchain adoption, and CBDC pilots. The introduction of RLUSD, Ripple’s U.S. dollar-backed stablecoin, has further solidified the utility of the XRP Ledger and deepened its liquidity. These developments provide real-world demand, setting the stage for XRP to thrive beyond speculative hype.

Meanwhile, XRP’s legal clarity continues to improve. Following Ripple’s landmark partial victories against the U.S. SEC in 2023, and with the imminent withdrawal of appeal and counter-appeal, XRP faces fewer regulatory obstacles. This has helped restore confidence among institutional players and long-term investors.

Supporting this outlook is robust on-chain data. Exchange reserves for XRP are steadily decreasing, indicating that coins are moving into cold storage, a classic signal of accumulation. Network activity is on the rise, and volume trends show growing participation from both retail and institutional actors. These metrics confirm that the recent breakout is driven by genuine demand, not just short-term speculation.

The projection for an “extremely parabolic” XRP leg is not based on hype, but on rare technical alignment, solid fundamentals, and strengthening market structure. After seven years of compression, XRP has broken free, and if this breakout follows through, it could mark the beginning of a new era not just for the token but for the broader crypto market.