Can XRP hit $20? Charts signal bull run isn't over

Key takeaways:

• XRP recently hit a multi-year high of $3.66, with technical indicators pointing to further upside potential.

• Multiple chart patterns suggest an impending "explosive" move, with potential targets of $7-$20 upon breaking key resistance levels.

• XRP has surged nearly 90% from its April lows, reaching a new peak of $3.66 on Friday.

• Analysts note that despite the strong rally, XRP may not yet have entered its parabolic phase.

• XRP dominance is signaling... 

Key takeaways:

• XRP price just hit multiyear highs of $3.66, but technicals suggest there’s more room to run.
• Multiple XRP charts signal a potential “explosive” move, targeting $7-$20 if key resistances are broken.

Despite this impressive performance, several technical setups suggest that XRP price is yet to enter its parabolic phase, according to analysts.

XRP dominance "signaling a mega bullish wave"

Popular crypto analyst Dom noted that while XRP reached multi-year highs on Friday, some key charts "haven't truly signaled full bull mode yet."

One critical indicator is the XRP dominance chart (XRP.D), which measures XRP's market share. It's currently testing weekly resistance at ~5.50% - a level that has capped XRP.D for over 2,200 days.

"Not everyone watches XRP Dominance, but I believe it's signaling a mega bullish wave!" analyst Egrag Crypto emphasized in a Saturday post.

The metric has broken from a bull pennant on the two-week chart, with potential targets between 21% and 275%. Egrag highlighted that the Visible Range Volume Profile (VRVP) shows a major liquidity void above 5.75%, coinciding with Dom's identified resistance level.

XRP/BTC Shows Bullish Breakout Potential

The XRP/BTC pair is flashing strong technical signals, suggesting XRP's most significant rally may still be ahead. The cryptocurrency is now testing crucial resistance that has capped its price since mid-2019. A clean breakout above this level could spark explosive upside momentum - mirroring the massive 2018 bull run.

XRP price chart targets $20

The monthly timeframe shows XRP validating a bull pennant pattern while currently testing resistance at its $3.84 all-time high. This technical formation:

• Represents a continuation pattern following a strong upward move
• Signals consolidation near the upper range of recent gains
• Requires a monthly close above $2.55 (pennant's upper trendline) for confirmation

A successful breakout would open the path toward the pattern's $18+ target - a potential 417% surge from current levels. "This is just simple technical analysis," commented trader XRPunkie regarding XRP's monthly price action, while maintaining that...