Analyst Spots XRP Bull Pennant, Predicts Explosive Rally With Price Targets

XRPunkie (@Shawnmark7899), a technical analyst on X, has highlighted a potential breakout scenario for XRP based on the current weekly chart structure.According to the analyst, the digital asset is forming a clear bull pennant pattern, suggesting a strong move once the current consolidation phase is complete.At the time of his analysis, XRP traded at $2.1932. The analyst expects a short-term pullback before an upward breakout. XRPunkie isn’t the only one to point toward a pullback before an upcoming price surge, and he believes that the final pullback could see the asset decline to the $1.80–$2.00 range, aligning with the lower support of the pennant structure.This move would complete the consolidation phase and potentially set the stage for a significant upward move. “Beautiful bull pennant ready for a breakout once we complete this final pullback,” the analyst commented.#XRP on the weekly chart, beautiful bull pennant ready for a break out once we complete this final pullback to $1.80-$2.0. Technical target of this bull pennant is $13-$14. There will be more pullbacks along the way to $14. Remember to stagger out your profits. pic.twitter.com/4Si3Xu5Vn6— XRPunkie (@Shawnmark7899) April 30, 2025Bull Pennant Structure Indicates Strong Upside PotentialThe weekly chart shows a sustained uptrend from late 2024, beginning when former SEC Chair Gary Gensler announced his resignation. This rally culminated in a multi-year high of $3.39 in January, pushing the asset into a consolidation phase.The pattern has formed higher lows and lower highs, converging into a tight structure. These characteristics are consistent with a bull pennant, which typically serves as a continuation signal in technical analysis.We are on twitter, follow us to connect with us :- @TimesTabloid1— TimesTabloid (@TimesTabloid1) July 15, 2023The chart points toward two key Fibonacci extension levels as breakout targets. The 1.618 level aligns with approximately $6.45, while the 2.0 extension reaches $13.42. XRPunkie identifies this range as the technical target for the breakout, suggesting that XRP could rally toward $13–$14 over time if the pattern resolves upward.The weekly candle structure and the narrowing triangle indicate reduced volatility, often seen before significant price moves. If the breakout occurs above the pennant resistance, momentum could accelerate as traders react to the confirmation.The Path to TargetsAlthough the target range represents a substantial increase from current levels, XRPunkie cautions that “there will be more pullbacks along the way to $14.” Instead of a straight climb to $14, the analyst anticipates periodic corrections as the asset moves through key support and resistance levels toward the Fibonacci targets.The suggested range of $1.80–$2.00 for the near-term pullback corresponds with the lower boundary of the pennant, where buyers may step in. Some analysts believe XRP can hit $5 this month, adding credence to the prediction that this bearish phase will be short and that the overall setup favors a bullish continuation.Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.Follow us on X, Facebook, Telegram, and Google NewsThe post Analyst Spots XRP Bull Pennant, Predicts Explosive Rally With Price Targets appeared first on Times Tabloid.