XRP's Price Movement Mirrors Stellar's Pre-Breakout Setup, Analyst Suggests

A recent analysis by crypto analyst Steph Is Crypto has sparked interest among XRP holders. The analyst compared the current chart structure of XRP to that of Stellar (XLM), which recently broke out of a defined sideways range.

The breakout in XLM was sharp, with the price pushing well above the top of its prior range from $0.14 to above $0.20. This move was triggered by an announcement from the Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation, which confirmed plans to integrate their Digital Custody Trust tokenization service with the Stellar public blockchain.

Steph highlighted that XLM was sitting at the bottom of its range just days before the breakout began. He noted that XRP is currently in a similar position, moving sideways since February and trading between $1.30 and $1.51.