Date: Fri, July 04, 2025 | 11:58 AM GMT
The cryptocurrency market has kicked off Q3 with strong upside momentum, carrying forward the bullish energy from Q2. Ethereum (ETH) has already posted a solid 4% weekly gain and is currently trading around the $2,550 level — reigniting positive sentiment across major altcoins .
Following this, XRP has also returned to the green zone with a 7% jump over the past week. But what’s even more intriguing is the appearance of a well-known harmonic structure on its chart, signaling a possible continuation to the upside.
Source: Coinmarketcap Harmonic Pattern Hints at Major Upside
A closer look at XRP’s daily chart reveals the development of a Bullish Butterfly harmonic pattern — a well-respected formation in technical analysis that identifies potential reversal or continuation zones when its CD leg nears completion.
XRP Daily Chart/Coinsprobe (Source: Tradingview) The pattern began from point X around $3.39 on January 16. XRP then moved sharply down to point A, followed by a bounce to point B, and another pullback to point C near $2.25 on June 22. Since then, the price has been steadily recovering and is now trading near $2.24. Importantly, it is approaching the 200-day moving average, currently sitting around $2.36 — a level that could act as a short-term resistance and key confirmation zone.
What’s Next for XRP?
If the Butterfly pattern continues to unfold and XRP manages to break above the 200-day MA with strong volume, it could pave the way for a much larger rally. The next key price targets lie within the Potential Reversal Zone (PRZ), which spans between $3.88 — the 1.272 Fibonacci extension — and $4.50, which corresponds to the 1.618 Fib extension. These are the traditional levels where a Butterfly pattern tends to complete, and a reversal or pullback may follow.
That said, traders should remain cautious until XRP confirms a breakout above the 200-day MA. Failure to do so could keep the token trapped in its current range and delay the bullish breakout.
