- XRP forms a larger double bottom pattern from 2018 to 2025, breaking its neckline and retesting it, similar to the 2017 setup.
- Whale investors accumulate 900 million XRP within 48 hours, with open interest rising and trading volume easing after recent price volatility.
- Binance and OKX trader ratios show a strong long bias, indicating bullish positioning from experienced market participants across major exchanges.
XRP has broken a seven-year consolidation structure, with technical similarities to its 2017 rally pointing toward a potential move toward the $34 level.
Multi-Year Structure Resembles Historic 2017 Setup
Gert van Lagen shared a $XRP [2W] chart showing a striking resemblance between the current market structure and XRP’s 2014–2017 cycle. During that period, the asset formed a large double bottom, broke its neckline, retested the breakout point, and surged to its all-time high. The move closely followed a measured projection based on the pattern’s height.
From 2018 to 2025, XRP has built an even larger double bottom, completing a clean neckline breakout followed by a precise retest. This time, the breakout has already surpassed previous all-time highs, removing key resistance barriers that once capped price growth.
The technical projection now sits near $34, aligning with the 2.00 Fibonacci extension of the double bottom pattern. Van Lagen notes that the setup could lead to a rally of similar or greater magnitude than the 2017 move.
Whale Accumulation Adds Fuel to Technical Breakout
Ali reported that whales accumulated 900 million XRP within 48 hours, coinciding with XRP trading at $3.26. This marks a 3.70% increase over 24 hours and a 9.91% gain over the past week.
According to the derivative market activity, spot and futures volume is down by 29.02% to $10.08 billion which is usually characteristic of consolidation after a strong unprecedented volatility bounce the day before. Open interest is at $8.31 billion, which has risen by 5.74% showing that traders aren’t rushing to close their positions, and conduct another trade instead.
Options data shows a 76.80% drop in volume, pointing to a slowdown in short-term speculative activity. However, options open interest is up 14.08%, meaning existing contracts are being retained in anticipation of possible future price movements.
Trading Data Shows Strong Bias Among Larger Participants
The overall long-to-short ratio for all traders stands just below neutral at 0.9486, but exchange-specific metrics reveal stronger optimism. On Binance, the ratio ranges from 2.75 to 3.01, while top traders hold a bullish ratio near 2.62.
Similarly, OKX traders show a long bias of 1.91, indicating that while retail sentiment may be mixed, more experienced market participants are building positions in favor of price appreciation.
The convergence of a historically bullish breakout pattern, large-scale whale accumulation, and increasing open interest suggests that XRP’s price structure is aligned for further upward momentum. If the current cycle mirrors 2017’s trajectory, the projected $34 target could be within reach in the coming sessions.
