XRP continues to consolidate between $1.0061 and $1.19 following a slight dip from its peak of $1.26 on November 16, 2024, investors are wondering what the next move for the token might be. XRP, currently trading around $1.11, has experienced fluctuations in recent days, leaving many investors to question whether the digital asset is on the verge of a bullish breakout or a downturn. Analyst The Block Bull recently shared insights into XRP’s potential trajectory, drawing comparisons from historical market cycles and providing a roadmap for the upcoming price action.

XRP Might Follow a 2021 Fractal Pattern

The Block Bull believes that XRP’s current price movement could follow a fractal pattern similar to its behavior during the 2020/2021 cycle. Fractals are price patterns that reoccur over time, although they may not replicate precisely. Instead, they “rhyme” with previous cycles, often providing critical clues for future market behavior. The analyst points out that XRP is currently forming a pattern characterized by three distinct peaks, which, according to fractal analysis, could indicate the next phase of its market movement.

On both the hourly and weekly timeframes, XRP has shown these peak formations, which often precede significant movements on a macro scale. The Block Bull predicts that XRP could rise to between $1.18 and $1.20 in the coming days. If the asset successfully breaches these levels, the next target could be as high as $1.96, with the potential to reach that price by November 24. This prediction mirrors the price action observed during the 2020/2021 cycle, where XRP experienced a similar series of price increases.

Potential for a Sharp Correction

While the outlook remains positive in the short term, The Block Bull also cautions that after reaching the $1.96 target, XRP may experience a sharp decline. This correction could drive the token’s price down to as low as $0.50, a significant drop from its recent highs. However, the analyst views this dip as a potential buying opportunity for investors, particularly those who have a long-term bullish outlook on XRP.

The Block Bull suggests that such a correction is typical of the market cycles XRP has experienced in the past. If history repeats itself, the dip to $0.50 would be followed by a major breakout, setting the stage for a new rally. This potential correction could be a strategic entry point for investors aiming to capitalize on the long-term bullish trend that XRP might follow after the consolidation phase.

A Hybrid of the 2017/2018 and 2020/2021 Cycles

In addition to drawing insights from the 2020/2021 cycle, The Block Bull also highlights the influence of the 2017/2018 super cycle on the current market conditions. XRP’s current trajectory appears to be a combination of both market cycles, suggesting that XRP could push beyond the $1.96 peak seen in 2021.

A key factor supporting this hybrid cycle theory is the seven-year symmetrical triangle formation on the macro timeframe, which indicates a buildup toward a significant breakout. The Block Bull emphasizes the importance of this pattern, as it suggests that XRP is in the final stages of consolidation before a larger price movement.

Key Resistance and Buying Opportunity

For XRP to continue its upward trajectory, The Block Bull urges investors to keep a close eye on the $1.18 to $1.20 resistance range. If XRP manages to break through this level, it could signal the start of a rally toward $1.96. However, investors should also be prepared for the possibility of a correction once the $1.96 target is hit. The dip to $0.50 would present an excellent buying opportunity for those looking to capitalize on the long-term potential of XRP.

Conclusion: What’s Next for XRP?

XRP’s recent consolidation has raised questions about its next price move. While some analysts remain cautious, The Block Bull’s analysis suggests that XRP may follow a similar pattern to its 2020/2021 cycle, with potential for a rally to $1.96. After this, however, a sharp correction could send the token to $0.50, offering a buying opportunity before a more significant breakout.

Investors should monitor XRP’s short-term movements, focusing on whether it surpasses the $1.18–$1.20 resistance range. If it does, the path to $1.96 could be clear, but caution is advised, as a potential correction may follow. Regardless of the short-term fluctuations, the long-term outlook for XRP appears promising, with the possibility of a breakout that could take the asset to new highs in the coming months.