[DigitalToday reporter Yoonseo Lee] An analysis says XRP has already again met 2 of the 3 technical conditions that appeared just before its 580 percent surge in November 2024.

On May 27 (all times local), blockchain outlet The Crypto Basic said some assessments have emerged that the recent XRP correction is not simply bearishness but resembles the "post-breakout pullback" zone seen before a past surge.

XRP hit $1.54 early this month and then faced selling pressure, now trading around $1.32. It is down about 13.6 percent from a local high recorded on May 14. On a weekly basis, the downtrend continued as negative candles formed for a second straight week since May 11.

The core of the analysis is that the current correction could instead be part of a rising pattern. Analyst Mikybull said that ahead of the major rise in November 2024, XRP first broke above a downward trend line and then went through a pullback that retested the breakout zone. At the time, XRP broke through a downward trend line that had capped prices for 12 months after a $0.92 peak in July 2023, during a recovery to $0.63 in July 2024. After rising above $0.6, it slipped to the lower $0.5 range, testing the trend line as support.

XRP then entered a full-fledged uptrend. Mikybull described this development as a "bullish move". XRP rose 580 percent, climbing from around $0.5 in November 2024 to $3.4 two months later.

Analysts say this cycle is showing a similar structure. After a $3.6 peak in July 2025, a downward trend line formed again as highs fell. XRP met the first condition by breaking above the line during a weekly 6 percent rise early this month, and the recent correction from $1.54 corresponds to the second condition, the explanation said.

Mikybull claimed, "The next phase will be a bullish move." It was also noted that the weekly moving average convergence divergence (MACD) is repeating a structure similar to the period just before the November 2024 rise. If a 580 percent increase is reproduced from the current price of $1.3295 as in the past, calculations also suggest XRP could reach a new all-time high (ATH) of around $9.

Still, it cannot be taken for granted that this scenario will repeat as it did. Past performance does not guarantee the recurrence of the same pattern, and in particular, if XRP fails to defend the breakout zone this time, it could slip back below the downward trend line.

Another analyst, Ali Martinez, offered a more cautious view. He warned that XRP has fallen below the mid-band of a monthly parallel channel and could drop to $0.73 if it fails to reclaim that level. As a result, the near-term focus for XRP is on whether it can keep the recently broken trend line as support and whether price stabilization after the correction leads to an actual bullish reversal.

$XRP Breakout and consolidate on the retest before a massive bullish rally Currently on consolidation, the next phase will be a bullish move pic.twitter.com/17TBliQQJJ