Date: Sun, February 16, 2025 | 11:24 AM GMT
In the cryptocurrency market this week, major altcoins are showing signs of recovery after weeks of correction, as Bitcoin dominance has dropped by 1.26% over the past seven days.
Following this, XRP is making a strong comeback, recording impressive gains of over 12% in the past week while narrowing its 30-day decline to 16%.
The price action is now showing signs of a potential bullish reversal, with technical indicators aligning for a possible breakout.
Bump-and-Run Reversal (BARR) Pattern in XRP
With the reference of the latest XRP analysis by prominent crypto analyst STEPH IS CRYPTO, XRP’s price action is aligning with the Bump-and-Run Reversal (BARR) pattern, a classic technical formation that often signals the end of a downtrend and the beginning of a strong uptrend.
Lead-in Phase: Since the Jan 16 high of $3.45, XRP underwent a significant correction, forming a downward sloping trendline, which represents the Lead-in Phase of the pattern.
Bump Phase: Over the past seven days, XRP has bounced back, bringing its price to $2.76, indicating the Bump Phase where buyers are stepping in to absorb selling pressure.
Breakout & Throwback: The token is currently testing the descending trendline (red). If XRP successfully breaks out and retests the trendline, it could confirm the beginning of the “Uphill Run” phase, which often leads to a parabolic price increase.
Can XRP Hit $4?
If the BARR pattern plays out successfully, XRP could target the psychological level of $4, marking a 44% surge from the current price. Several technical indicators are supporting this potential breakout. The MACD (Moving Average Convergence Divergence) histogram is turning green, signaling a shift in momentum toward bullish territory.
Final Thoughts
With XRP showing a clear Bump-and-Run Reversal (BARR) pattern, a successful breakout could trigger a strong rally toward $4. However, traders should watch for a confirmed retest of the trendline before entering any major positions.
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