Prominent financial analyst Raoul Pal says XRP is entering a phase he calls “full porting,” a process that signals the token could soon break out of its long consolidation and begin a strong new uptrend.
Pal, chief executive at Global Macro Investor, shared a chart that tracks XRP’s price history over a decade. The chart shows several long periods where the crypto moved sideways within falling wedges or descending triangles before breaking sharply higher.
He argued that the current setup resembles two earlier cycles that ended with powerful rallies.
“Full porting” in his framework means an asset has completed years of compression, and is preparing to move into an expansion phase.
Current XRP Setup Mirrors Earlier Structures That Preceded Rallies
In XRP’s case, compression refers to prices being trapped in narrowing ranges, with volatility gradually declining. Expansion happens when the token escapes those limits and often surges into a parabolic run. Pal believes XRP is at that turning point now.
The XRP chart shows four major structures. Between 2014 and 2017, the token traded inside a descending triangle before breaking out and joining the wider bull run. From 2018 to 2020, it repeated the pattern, this time within a falling wedge, before surging again in late 2020.
A third cycle formed from 2021 to 2023, when XRP slipped into another wedge against long-term support. That period ended with a breakout in 2023 and early 2024. The present pattern, according to Pal, is an ascending triangle forming just below the long-elusive $3 mark.
At the time of writing, XRP traded around $2.90, down 3.4% on the day and nearly 7% over the past week. The token continues to face resistance at three dollars, a level it has struggled to reclaim since its rally in 2021.
Full Porting Could Trigger Rally Years In The Making
Pal’s suggestion of “full porting” implies that XRP could soon escape this structure and enter a new expansion phase, potentially echoing its past surges. In 2021, for example, it climbed from $0.20 to more than $2 once the consolidation broke.
XRP remains one of the most closely watched tokens due to its association with Ripple and the long-running regulatory battle in the US. Despite these headwinds, its price structure has continued to form patterns that traders view as classic setups for eventual breakouts.
Pal’s interpretation is that the token is now approaching the end of its latest compression cycle.
If history is a guide, he suggests, the process of “full porting” could soon give way to a new uptrend. For XRP holders, that would mark the beginning of another expansion phase that has been years in the making.
The post Raoul Pal Sees XRP Poised For Strong Uptrend As ‘Full Porting’ Begins appeared first on Cryptonews.
