XRP's Technical Pennant Pattern: Building Toward EUR-Scaled Price Expansion

Crypto analyst Amonyx has identified a significant consolidation pattern in XRP’s monthly timeframe that could signal a substantial move ahead. The chart reveals a multi-year pennant formation, with the asset currently trading near $1.38 as of February 2026—down 0.64% over the last 24 hours. According to the technical analysis, this pattern structure may eventually translate into meaningful gains when denominated in EUR or other major currency pairs.

Understanding the Consolidation Structure

The pennant pattern on XRP’s monthly chart spans from 2018 through 2026, showing years of compression within well-defined trend lines. The asset has maintained its position above a critical support level around $1.04, which was broken decisively in late 2024. The current candle cluster hovers near the middle of the pattern range, with price action pressing against the upper boundary.

The structure demonstrates repeated rejection at specific resistance levels, evidenced by upper wick formations, while lower wicks indicate sustained support testing. This type of pattern—where a prior strong move settles into tight consolidation—often precedes significant expansion phases. XRP’s ability to hold both support and resistance levels over an extended period suggests the foundation for a directional breakout is being established.

Historical Precedent and Measured Projection

The analyst compared the current formation to the pennant that preceded XRP’s 2017 surge, which produced approximately a 5,250% expansion. That historical move demonstrates the potential magnitude when consolidation patterns resolve decisively.

The present pennant structure is notably larger and longer than the 2017 formation, spanning nearly eight years. This extended compression typically signals stronger potential energy accumulation. Using the measured move technique—applying the magnitude of the prior expansion to the current pattern—the analysis suggests XRP could reach $64.38, placing the asset firmly into double-digit territory.

While the analyst specifically mentioned $20 as a milestone, the measured projection extends significantly higher. When converting these targets to EUR or other fiat denominations, the relative percentage gains remain consistent, though absolute values depend on currency exchange rates at the time of any breakout.

Current Price Action and Trading Implications

At present, XRP trades at $1.38, having experienced pullbacks since the pattern began pressing against its upper boundary. However, the underlying structure remains intact, with support levels continuing to hold during downside tests.

The technical setup suggests two potential scenarios: a consolidation continuation that eventually produces a larger move, or an earlier breakout from the current compression phase. The breakout point sits near $1.04 on a monthly close basis, already cleared in late 2024, with the upper trend line now representing the resistance to overcome.

Traders monitoring this pattern should recognize that while historical pennants offer compelling setups, not all patterns resolve in the predicted direction. The timeframe for expansion could span several months, and interim consolidation periods may occur before any significant move materializes. Technical analysis provides a framework for understanding probability, but cryptocurrency markets remain subject to broader economic conditions, regulatory developments, and sentiment shifts.