Date: Thu, February 20, 2025 | 06:02 PM GMT
In the cryptocurrency market this week, major altcoins are showing signs of recovery after weeks of correction. Among them, XRP is making a strong comeback, recording gains of over 11% in the past week, while narrowing its 30-day decline to 15%.
Source: Coinmarketcap
With technical indicators aligning for a possible breakout, XRP’s price action is flashing a potential bullish reversal, setting the stage for a major price rally.
Bump-and-Run Reversal (BARR) Pattern in XRP
On the daily chart, XRP’s price action is forming a Bump-and-Run Reversal (BARR) pattern, a classic technical formation that often signals the end of a downtrend and the beginning of a strong uptrend.
XRP Daily Chart/Coinsprobe (Source: Tradingview)
Key Phases of the BARR Pattern in XRP:
Lead-in Phase: Since the January 16 high of $3.45, XRP underwent a significant correction, forming a downward-sloping trendline, representing the Lead-in Phase of the pattern.
Bump Phase: Over the past seven days, XRP has bounced back, bringing its price to $2.72, indicating the Bump Phase, where buyers are stepping in to absorb selling pressure.
Breakout Throwback: The token is currently testing the descending trendline (red). If XRP successfully breaks out and retests the trendline, it could confirm the beginning of the “Uphill Run” phase, which often leads to a parabolic price increase.
Crypto Analyst’s Take:
The well-known crypto analyst @Steph_iscrypto pointed out in his latest analysis that XRP has reclaimed the EMA ribbons on the daily timeframe. The last time this happened, XRP surged by 409%—a historical move that traders are closely watching.
XRP Daily Chart/Source:@Steph_iscrypto (X)
Can XRP Hit $4?
If the BARR pattern plays out successfully, XRP could target the psychological level of $4, marking a 46% surge from its current price. Multiple technical indicators are signaling a potential breakout. The MACD histogram is turning green, indicating a shift in momentum toward bullish territory.
Additionally, XRP has reclaimed the EMA ribbons on the daily timeframe. The last time this happened, the token saw a 409% surge, making this a key bullish signal to watch.
Final Thoughts
With XRP showing a clear Bump-and-Run Reversal (BARR) pattern, a successful breakout could trigger a strong rally toward $4. However, traders should watch for a confirmed retest of the trendline before entering any major positions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
