XRP is making waves in the cryptocurrency market, trading at $0.82 after setting recent yearly highs following an impressive 65% surge in just a few days. This rally has caught the attention of investors and analysts, with top analyst Carl Runefelt sharing his insights on XRP’s bullish breakout.

According to Runefelt, XRP has finally broken through a multi-year resistance level, signaling the potential for a massive price rally in the coming weeks.

The optimism adds to recent positive developments in the broader crypto space, which have further boosted market sentiment. Reports suggest SEC Chairman Gary Gensler may step down, potentially reducing regulatory pressure on the cryptocurrency industry. Elected President Donald Trump’s pro-crypto stance and policies are also generating renewed interest and confidence among cryptocurrency enthusiasts.

These factors have created an environment where XRP appears poised for significant gains. As investors watch closely, the focus remains on whether XRP can maintain this momentum and continue to rise. With the removal of key resistance levels and favorable media sentiment, XRP is now positioning itself as one of the most promising assets in the cryptocurrency space.

XRP is entering a growth phase

XRP has entered a promising recent phase of growth after years of indigent performance and protracted legal battles with the SEC in the US. This resurgence is generating optimism among investors and analysts alike, and top cryptocurrency analyst Carl Runefelt shares compelling technical analysis on X.

Runefelt highlighted XRP’s break from multi-year resistance levelswhich signals a significant change in price trajectory. In his analysis, Runefelt conservatively predicted that XRP could reach $2 during the bull market, a modest target compared to analysts who predict the price level will skyrocket above $20.

The breakout marks a turning point for XRP, which has faced years of sideways price movements and constant selling pressure. Legal failures, regulatory uncertainty and market skepticism have caused these assets to underperform compared to other assets. However, thanks to favorable developments in the broader cryptocurrency market and the continued adoption of blockchain solutions, XRP is regaining its position.

Many believe that the coming months could prove to be a breakout time for XRP, with the potential to eventually surge above the previous all-time high of $3.84 set in January 2018. As upside momentum builds and investor confidence strengthens, XRP is positioned as one of the standout performers in this market cycle.

Bullish Price Action: Key Supply Levels to Watch

XRP is trading at $0.82 following a massive breakout that has broken multiple resistance levels, signaling renewed upward momentum. This surge has renewed optimism among investors as XRP shows strength after prolonged underperformance.

The next critical supply level for XRP to test is $0.92, a price level it has not reached since 2021. A successful break above $0.92 followed by consolidation and building support at this level could open the door to a significant move up.

If XRP maintains its bullish momentum and establishes a support zone at $0.92, demand could surge, pushing the price towards the $1.4 level. This would mark a significant milestone, consistent with broader market optimism and strengthening investor confidence in XRP’s long-term potential.

However, the possibility of a failed break above $0.92 cannot be ignored. If the price struggles to maintain this level, XRP may enter a consolidation phase, remaining within the range until recent catalysts emerge. Such a scenario would likely delay the next major move, but could create opportunities for accumulation.

As the price continues to rise, traders and traders are closely monitoring these key levels, recognizing that their outcome could determine the next chapter of XRP price action in this bullish cycle.

Featured image from Dall-E, chart from TradingView