XRP has recently entered the end stage of a Wyckoff Re-accumulation schematic, with a break toward the upside now looking likely.
Market strategist Steph (@Steph_iscrypto) called attention to the current market condition in his latest XRP analysis. For the uninitiated, the Wyckoff Re-accumulation schematic is an uptrend consolidation phase where strong hands absorb supply as prices trade in a range before the next move higher.
XRP Within Wyckoff Re-accumulation Schematic
Data from the daily XRP chart shows that the altcoin trades within this pattern. According to Steph, this began in late 2024 amid the upsurge triggered by Donald Trump’s re-election. For context, XRP witnessed a massive run from November 2024 to January 2025, breaching the $2 and $3 levels.
This essentially marked the first stage of the Wyckoff Re-accumulation schematic, which represents a strong uptrend. However, after hitting a seven-year peak of $3.4 in mid-January, XRP entered a consolidation phase. This consolidation has persisted due to the broader market’s turbulence.
Steph suggested that in this re-accumulation pattern, the market essentially shakes away the weak hands before the next upsurge. Despite a flood of bullish and bearish news, XRP has maintained a range of $2 to $3.3 since late 2024. This confirms that the asset is maintaining the Wyckoff Re-accumulation structure.
However, XRP remains at risk of breaking the structure amid current market conditions, particularly if bearish pressure intensifies. According to Steph, XRP must avoid a weekly or monthly candle close below support around the $1.9 to $2 range to maintain its position within the Wyckoff Re-accumulation schematic.
Nonetheless, the market watcher is confident that a break to the upside is more likely. “As long as we don’t close any weekly candles or monthly candles below the support, I’m still extremely bullish and I’m focused on the upside,” he commented.
Wen Breakout?
He then pointed out that XRP has scaled through the consolidation and might be at the end of the schematic. Notably, this is particularly bullish, suggesting that a break above the range-bound structure could be imminent. Steph believes this could lead to “a massive breakout.”
The analyst then proposed when this breakout could occur. According to him, the market would confirm this bullish breakthrough when XRP closes a daily candle above $2.9.
Notably, XRP attempted to engineer this run earlier this month when it closed on March 2 at $2.9 following Trump’s reserve announcement. However, the bearish pressure from the broader market led to a massive 18.83% drop the next day. This essentially foiled the original breakout plans.
As a result, it is important to note that XRP would need strength from the rest of the market to witness this breakout. Steph confirmed that the asset currently changes hands at $2.31. Nonetheless, he pointed out that the weekly Stock RSI is set to record a bullish crossover, a development that could trigger the next bullish run.
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