XRP News Today: XRP Consolidation May Trigger 600% Rally to $21.5

XRP, the cryptocurrency, has been consolidating for the past six months, forming a wedge-shaped pattern on its weekly chart. This pattern is reminiscent of historical setups that have preceded significant breakouts, including the 2017 rally that saw XRP reach its all-time high (ATH). The current phase of consolidation suggests that XRP may soon break through the $2.90 resistance level and aim for higher targets, such as $6.618 and potentially $21.5.

According to technical analysis, XRP's price movements have been consistent with its historical market behavior. The asset has been in a phase of compression followed by expansion, which has historically marked the beginning of bullish trends. The current chart suggests that a move beyond $2.90 could open doors to extended targets, aligning with the historical market behavior of XRP.

The breakout that began in early 2025 fits into what is identified as Phase 4, often associated with aggressive upward momentum. If the pattern persists, a breach above the ATH could trigger a swift move to the projected price zones. This phase has previously led to substantial price advances, as seen in the 2017 rally.

Institutional interest in XRP is also on the rise. Amber International, a blockchain infrastructure company, has added XRP to its $100 million crypto reserve, backed by major investors including Pantera Capital and CMAG Funds. This move reflects growing confidence from institutional investors in the long-term potential of XRP. The reserve's focus on scalable projects aligns with XRP's utility profile, further strengthening the outlook for the asset.

With consistent technical formations and emerging institutional support, XRP appears to be at a critical turning point. The current phase of consolidation and the historical patterns suggest that XRP may soon break out of its current range and aim for higher levels. The inclusion of XRP in the $100 million crypto reserve by Amber International further signals rising confidence from institutional investors, adding to the bullish sentiment surrounding the asset.