The XRP analyst objects growing sense of boredom around the XRP price action, with the prospect that people are misreading what is actually happening happens on a higher time frame.

Coming to the X social media platform, an analyst known as XRP QUEEN he said traders are overlooking a typical setup that has always preceded some of the most notable XRP rallies. Her view is based on the weekly price structure of XRP and comparison to the final resolution of previous long consolidation phases.

Why the $1.50 to $3 XRP range matters more than it seems

A look at the weekly candle time chart shows that XRP’s price action over many months has largely been swings between support at $1.50 and resistance just above $3. Interestingly, according to analysis by XRP Queen, XRP’s price action remaining between around $1.50 and $3 is not a sign of weakness, but a repetition of previous accumulation zones.

The chart shows how the token previously spent long periods in sideways movements for hundreds of days, highlighted on the chart as consolidation phases lasting 200, 800, and even 1,000 days. In each case, price compression eventually gave way to a vertical upward movement, marked MOON on the chart.

The key point is that these flat, frustrating periods tend to drain interest and attention from the market. According to the analyst, this decline in engagement has always been associated with wise accumulation. The longer the reach, the greater the pressure builds beneath the surface.

$2.72 and teleport motion projection

A notable level on the chart is the $2.72 zone, which is located around the 0.786 Fibonacci extension level projected based on XRP price lows in 2018. A break and hold above $2.72 would be essential for XRP to surge to modern all-time highs. As XRP Queen noted, if $2.72 holds, then the next outlook will be $9-15.

Once XRP leaves this range, it teleports away. No withdrawals and second chances. The projection on the chart shows Fibonacci extensions extending well above the current price. These extensions include 0.786 at $2.71, the 1.0 extension near $3.40, then 1.618 at $5.47, 2.818 at $8.78 and the most extreme extension 4.764 near $15.89. All point to price targets being exceeded after breaking the current range.

However, altcoins do currently trading well below the level of $2.72 necessary to confirm price teleportation to compelling highs. At the time of writing, XRP is trading around $1.60, which means the price would need to raise by about 69% to retest $2.72. Until that happens, XRP is in consolidation mode as is it is unknown how long this will last sideways trading in the current range.

Featured image from Freepik, chart from Tradingview.com