Analyst Maps $8.60 XRP Target as Token Mirrors Its 2024 Rally Setup

XRP's 2024 rally, which carried the token from roughly $0.50 to $3.40, has become the template for a projected repeat move that would put the price near $8.60. The scenario, laid out by analyst Diana (@InvestWithD), hinges on XRP first reclaiming the $1.73 breakout level, with higher Fibonacci targets positioned at $6.08 and $9.24. XRP is the native token of the XRP Ledger, a blockchain focused on payments.

The token has recently recovered from the $1.26–$1.31 area, but the setup remains unproven: resistance levels and trading volume will determine whether the structure actually completes.

The 2024 Comparison

In a post on X, Diana argues that XRP could repeat its 2024 surge, when the token rose from around $0.50 to $3.40. Her chart places that historical rally side by side with recent price action and identifies a possible liquidity sweep alongside a bullish change in market structure. On that basis, she sets a potential future target near $8.60.

Orange circles on the chart mark the two periods being compared. The first shows price action that preceded the 2024 rally; the second shows several days of consolidation that followed a downtrend. Both phases depict price struggling before a potential upward move — though, as the analysis itself notes, that similarity alone cannot confirm another rally.

The weekly chart points to a potential reversal, and XRP is trading below multiple weekly resistance levels. Selling pressure has limited recovery attempts, and the chart cannot confirm a larger move higher until buyers push the price above nearby highs.

A liquidity sweep, in this context, refers to a break below a prior low range followed by a recovery — a move that can trigger stop-loss orders and draw in traders positioning for further losses. A bullish change of character, meanwhile, would require a clear break above a previous swing high to support the reversal case.

The $1.73 Breakout Level

The analysis identifies $1.73 as the level that would confirm a breakout. A sustained move above it would indicate that buyers have cleared a significant price barrier. If XRP fails to reclaim that level, the bullish setup remains unconfirmed.

Volume is a central part of the thesis. Diana points to a large volume spike as part of the potential setup: stronger participation during a breakout would validate it, while a price rise on weak volume could prove difficult to sustain.

Derivatives data adds a further layer. According to Coinglass futures data, long and short positioning shifted sharply during August, coinciding with a rapid increase in XRP's price. The analysis cautions, however, that those figures reflect changes in trader exposure rather than a reliable forecast of the next move.

XRP traded mostly within a $1.30 to $1.55 range until the end of August and through September. The price rallied again in September and early October before pulling back — evidence, the post notes, that sharp moves do not always translate into lasting rallies.

On the intraday chart, XRP has recovered from roughly $1.26–$1.31, with a reported daily gain of 1.89%, according to CoinMarketCap data. Trading volume reached $1.66 billion as the price approached resistance near $1.32. Holding above $1.29 would help preserve the recovery.

Hurdles on the Path to $8.60

The $8.60 projection is derived by applying the 6.8x multiple from the 2024 run-up to a base of $1.27, producing a figure in the region of $8.60. The calculation assumes a similar percentage gain, and the analysis is explicit that the market is not guaranteed to repeat that performance.

Diana's chart places Fibonacci extension levels near $6.08 and $9.24 around the proposed target. Fibonacci extensions are ratios that traders project from a prior price swing to estimate where a move could stall; they function as reference points rather than predictions. The $6.08 level would be tested earlier if XRP were to climb substantially, and reaching $8.60 would require the token to move through several resistance zones along the way.

The first major test remains the $1.73 breakout level. Failure there could leave XRP rangebound or expose lower support. A drop below $1.29 would also undermine the recent intraday recovery.

The analysis also urges care in reading leveraged positioning. Significant shifts in long and short exposure may follow dramatic price swings but do not guarantee trend continuation, and traders would need to assess price action and volume together.

For now, the $8.60 target depends on XRP repeating the scale of its 2024 rally. Sustained strength above $1.73 would support the thesis; renewed failure at that level would leave the move unconfirmed. The next reaction around resistance will show whether buyers can make further progress.

This article is based on reporting by Cryptofrontnews. It is provided for informational purposes only and does not constitute investment advice.