XRP News: Analyst Maintains $20 Cycle Target Despite Distribution Phase

Key TakeawaysAnalysts say XRP remains in a macro bullish trend, with long-term cycle targets between $19–$30.A symmetrical triangle on the daily chart points to a short-term breakout toward $4.Current “distribution” is seen as consolidation before a potential Wave 3 rally.XRP Consolidates, But Macro Target Stays at $20XRP’s recent pullback has not changed its long-term bullish outlook, according to crypto analyst XForceGlobal. Despite falling 22% from a multi-year high of $3.66 on July 18 to a local low near $2.72, XRP has since recovered to around $3.The analyst argues that XRP remains on track for a cycle top above $20, projecting two scenarios that both support higher price levels.Distribution before breakout – The current pullback mirrors past cycles where XRP built new bases before rallying higher.Wave structure formation – Distribution may extend between Waves 1 and 2 before a larger Wave 3 breakout.“We are very close to a much larger upward move. There are just no signals supporting a larger sell-off to the downside,” XForceGlobal said.Both scenarios highlight long-term targets between $19 and $30, reinforcing confidence that XRP’s bull cycle is far from over.Symmetrical Triangle Signals $4 Short-Term TargetXRP is currently trading inside a symmetrical triangle pattern on the daily chart, a setup often associated with continuation rallies.A daily close above $3 would confirm a bullish breakout.The next resistance is at the eight-year high of $3.66.A successful breakout projects a measured move to $4 (+34% from current levels).Veteran trader Matthew Dixon also supported the triangle thesis, calling it part of a “distribution phase” that precedes a larger Wave 5 rally.Outlook: $4 in the Short Term, $20 in the CycleWhile short-term resistance remains near $3–$4, analysts agree that XRP’s broader structure points to significantly higher valuations.If XRP can clear the $3.66 multi-year high, technical targets of $4–$6 open up in the near term, with a macro cycle top above $20 still intact.With institutional interest in altcoins rising and technical setups aligning, XRP may be gearing up for one of its strongest upside moves yet, according to Cointelegraph.