Popular crypto chartist Captain Faibik sparked conversation on X after sharing a chart suggesting XRP is coiled for a massive breakout.
According to his analysis, the token has formed a classic falling wedge pattern on the 3-day chart, with a projected upside target around the $5 level. His post bluntly declared: “$XRP at $2 is an absolute gift.”
XRP is currently trading at $2.14, down just under 1% on the day, but still holding steady in a key support zone. On higher timeframes, the chart structure suggests price compression ahead of a potential expansion move, especially as XRP hovers just below both its 21-day EMA ($2.16) and 50-day SMA ($2.17).
Technical Indicators Flash Mixed, But Setup Remains Constructive
Daily RSI sits near 47, hinting at consolidation rather than oversold or overbought extremes. Meanwhile, the MACD lines are starting to converge, suggesting that momentum may soon flip bullish again. The Stochastic Oscillator is still hovering in neutral territory.
While short-term volatility remains a risk, the wider sentiment from top accounts suggests growing optimism. XRP’s price action over the past month has cooled slightly from a peak near $2.35 but has held the $2 psychological level with resilience.
Whales Accumulate as ETF Speculation Mounts
Behind the scenes, whale wallets have reportedly added close to 900 million tokens over the past month. This buying spree comes amid ongoing speculation that a spot XRP ETF could be approved in the U.S. by year-end. Polymarket currently places the odds at 77%, further stoking bullish conviction.
The surge in wallets holding over 10,000 XRP suggests growing confidence among larger holders. Some analysts have dubbed the token the “sleeping giant” of crypto, and with the potential for ETF tailwinds, the label may soon be tested.
For now, all eyes remain on a clean break above $2.30—the top of April’s local range. If bulls can flip this level into support, momentum could carry XRP toward Faibik’s $5 target. With institutional whispers growing louder and technicals aligning, the weeks ahead could be pivotal for Ripple’s native asset.
As always, traders should monitor key levels closely. But if the chart plays out, $2 may well go down as one of 2025’s best entries.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
