Cryptocurrency analysts have XRP under their microscope as the altcoin has been consolidating for over 500 days. Well-known XRP Edward Farina recently predicted that the coin would be subject to a “perpetual cycle.”

Farina said this during Istanbul Blockchain Week, where many believed XRP would enter its biggest bull run despite the current volatile market conditions. He urged investors to enjoy the current situation while prices are low.

Another crypto analyst, Egrag, shares his technical analysis of XRP price movement, supporting Farina’s optimism: The token’s recent bounce around key support and resistance levels, particularly $0.3931, indicates a very solid support zone.

This particular move by XRP has been consolidating for over a year and a half, which he believes can be considered an accumulation that needs to form before a massive breakout. Egrag’s chart reveals that bullish targets could be at $0.739, $0.924, and even $1.469.

#XRP 540 days from March 13, 2024! 🔥

If these miniature movements shock you, you don’t deserve the HUGE MEGA PUMPS that are coming!#XRPArmy KEEP IT STILL photo:twitter.com/ErNrvkO4F3

— EGRAG CRYPTO (@egragcrypto) September 7, 2024

“Mega Pump” on the Horizon?

Egrag’s analysis suggests that XRP holders are set to receive what he calls a “Mega Pump.” While he claims that those who held onto their tokens during this silent phase could be rewarded in vast proportions, he put forth the opposite belief that those who sold their XRP do not deserve the massive mega pumps that are in the future.

While XRP remains in this range, other cryptocurrencies are rising. Bitcoin peaked in June 2024; Binance Coin peaked this year in April 2024. Even meme currencies like Shiba Inu and FLOKI soared, although given the volatility of the cryptocurrency market, they did not last long.

Despite the delicate performance, some long-term XRP investors are confident that a breakout will occur after a long accumulation phase.

Is the “Perpetual Cycle” coming?

Farina’s strategy is dollar-cost averaging: a practice where investors gradually buy an asset, especially when it’s down from a peak. He said it’s a great candidate for long-term accumulation, as XRP remains 80% below its 2018 all-time high of $3.84.

$XRP we don’t experience a bull market, it will be a continuous cycle. In a few years, when we look back at today’s prices, it will be absolutely unbelievable.

Interview on EAK TV in @IstanbulBlockWk #IBW2024 photo:twitter.com/wS30CFTAHI

— EDO FARINA 🅧 XRP (@edward_farina) September 8, 2024

He further noted that this could put investors in a position to make extraordinary profits when the market eventually turns higher.

Farina is not in a vacuum with his optimism. Other analysts share his view, saying that XRP could rise as high as $50 or even $100 in the near future.

Will XRP breakout?

XRP is still affordable, at around $0.527 at the time of writing. CoinMarketCap observers are bullish, with 73% predicting an imminent recovery for the token.

While the market outlook was mixed, many investors followed Farina’s advice and began accumulating XRP while prices remained low, hoping that the token would escalate in value in the long term.

Regardless of whether the “mega pump” happens or not, the longer consolidation phase of XRP could be a preparatory step for something huge.

Featured image from Toyota of North Charlotte, chart from TradingView