XRP is drawing renewed attention from technical analysts who observe that its current price formation closely mirrors a pattern seen in 2024, which preceded a significant upward move.
At the time of analysis, XRP trades near $1.40, up approximately 35% over one month. The token remains well below its 2025 peak near $3.65 but has recovered from levels below $1.00 reached earlier in the summer.
Technical Pattern and Price Targets
Analysts tracking the altcoin highlight that XRP is repeating a sequence observed immediately before the 2024 rally. According to the technical framework shared by chart watchers, the token is progressing through successive targets at $1.30, $1.90, $2.80, and $3.40, advancing from the $1.10 to $1.00 zone.
Additional analysis references Fibonacci retracement levels. One trader notes that a recent correction bottomed near the 0.5 retracement level, with price subsequently clearing the 0.618 level. The next extension target is cited near $2.13 at the 1.618 Fibonacci level.
On-Chain Activity and Exchange Outflows
Supporting data points emerge from on-chain metrics. Spot trading volume for XRP reached a six-month high in August 2026, with Binance alone recording more than $7.26 billion in volume, while Upbit and Bithumb also showed elevated activity.
Approximately 500 million XRP left Binance during the same period, with monthly average exchange reserves declining to levels last seen in early 2024. Analysts interpret this outflow as a longer-term positive indicator, potentially reflecting accumulation in self-custody or demand for spot ETF products launched in late 2025.
Competing Perspectives
Not all market participants share the bullish interpretation. More cautious analysts describe XRP as remaining inside a corrective pullback within the $1.10 to $1.38 support zone. Under this view, the latest bounce appears as a three-wave structure without a confirmed low, suggesting an incomplete recovery rather than the beginning of a sustained advance.
The combination of repeating technical patterns, elevated spot volume, and declining exchange reserves creates a contested setup. Historical pattern recognition can highlight possibilities, yet broader market conditions, crypto sentiment, and macroeconomic factors continue to influence actual outcomes. Whether the 2024-style sequence materializes will depend on sustained buying interest and XRP's ability to hold key support levels.
