The eminent financial analyst Raoul Pal said that XRP is entering a phase he calls “full portage”, a process that signals that the token could soon be out of its long consolidation and start a new upward trend.
PAL, managing director of Global Macro Investor, shared a table following XRP prices history over a decade. The graph shows several long periods when the crypto moved laterally in the falling districts or the triangles descending before breaking strongly.
He argued that the current configuration resembles two previous cycles which ended with powerful rallies.
The “full portage” in its context means that an asset has completed years of compression and is preparing to move on to an expansion phase.
The current XRP configuration reflects previous structures which have preceded rallies
In the case of XRP, compression refers to prices trapped in the shrinking ranges, volatility is gradually decreasing. The expansion occurs when the token escapes these limits and often increases in a parabolic race. PAL thinks that XRP is at this turn now.
The XRP graph shows four major structures. Between 2014 and 2017, the token exchanged inside a descending triangle before breaking and joining the wider Bull Run. From 2018 to 2020, he repeated the model, this time in a corner of the fall, before going back to the end of 2020.
A third cycle formed from 2021 to 2023, when XRP slipped into another corner against long -term support. This period ended with an escape in 2023 and at the beginning of 2024. The current model, according to PAL, is an ascending triangle forming just below the $ 3 bar in the long term.
At the time of writing the editorial staff, XRP exchanged about $ 2.90, down 3.4% over the day and almost 7% in last week. The token continues to cope with the resistance to three dollars, a level which he had trouble recovering from his rally in 2021.
Full portage could trigger rally years
The suggestion of Pal of “complete portage” implies that XRP could soon escape this structure and enter a new phase of expansion, potentially echoing its past overvoltages. In 2021, for example, it went from $ 0.20 to more than $ 2 once the consolidation broke.
XRP remains one of the most watched tokens because of its association with Ripple and the longtime regulatory battle in the United States. Despite these opposite winds, its price structure continued to form models that traders consider as conventional configurations for possible escapes.
PAL’s interpretation is that the token is now approaching the end of its last compression cycle.
If history is a guide, he suggests, the “full portage” process could soon give way to a new upward trend. For XRP holders, this would mark the start of another expansion phase that has been in progress.
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