XRP Wyckoff Pattern Maps Bullish Run To $3.70 This Summer

Crypto analyst Charting Guy (@ChartingGuy), posting to X on April 20, has mapped the daily XRP/US Dollar chart on Bitstamp onto a textbook Wyckoff reaccumulation schematic and argues that the pattern is now far enough advanced to imply a summer markup toward and potentially beyond the $3.70 region.

Wyckoff Pattern Ignites XRP Bull Case

The chart spans the fivemonth base that began with preliminary supply (PSY) in late November. A vertical surge carried price into a $2.68 Buying Climax (BC) in early December, immediately followed by an Automatic Reaction (AR) that washed back to roughly $1.90, anchoring the lower boundary of what would become the Phase A trading range. A Secondary Test (ST) in midDecember revisited the $2.72 zone, completing Wyckoffs initial stopaction sequence.

Phase B unfolded through January: demand rebuilt, producing an UpThrust (UT) in Phase B that briefly pierced $3.40 in mid January before supply reasserted itself. From that peak XRP traced a descending, lowangle channellabelled the Creekwith progressively lower highs and lows into early April. Throughout this descent, Charting Guys overlay shows the familiar sawtooth of Wyckoffs internal testing, suggesting weakhand distribution rather than true distributional topping.

On April 7 the market undercut range support, knifing to about $1.61, and immediately snapped back: the classic Spring of Phase C. A shallow Test of the spring followed near $2.00, satisfying Wyckoffs requirement for bullish confirmation. From that point the analysts projected path turns higher.

Phase D begins with what Wyckoff called Last Point of Support (LPS) between $2.35 and $2.55 in early May, followed by a steeper advance that drives through the February crest. This is followed by a Jump Across The Creek (JATC)a decisive thrust through the descending channel top and horizontal resistance at roughly $2.70.

The model then shows a price breakout above the mid-January high at $3.40 would constitute the Sign of Strength (SOS) around $3.40 in late May, completing the transition into Phase E. Afterwards, Charting Guy expects a second backing up into a first Last Point of Support (LPS) between $3.10 and $3.30 in mid-June, followed by an even steeper advance.

In Phase E the schematic accelerates, taking XRP into the $3.70 area by early Julyan objective that sits one tick above the $3.40 resistance band on the analysts price axis. With the spot rate at $2.12 at publication time, the roadmap implies a potential upside of close to 74% over the next two and a half months.

However, Charting Guy cautions that this doesnt mean uponly nowtiming may be slightly off, underscoring Wyckoffs probabilistic nature. Nevertheless, the meticulous alignment of realworld price action with the classical reaccumulation phasescomplete with labelled PSY, BC, AR, ST, UT, Spring, Test, LPS, JATC and SOSadds weight to the bullish case. If the market respects those technical milestones, XRP could soon be working with prices not seen since the last cycles peaks.

At press time, XRP traded at $2.11.

Text source: NewsBTC

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