Crypto analyst Charting Guy (@ChartingGuy), posting to X on April 20, has mapped the daily XRP\/US Dollar chart on Bitstamp onto a textbook Wyckoff re\u2011accumulation schematic and argues that the pattern is now far enough advanced to imply a summer markup toward\u2014 and potentially beyond\u2014 the $3.70 region.<\/p>\n
The chart<\/a> spans the five\u2011month base that began with preliminary supply (PSY) in late November. A vertical surge carried price into a $2.68 Buying Climax (BC) in early December, immediately followed by an Automatic Reaction (AR) that washed back to roughly $1.90, anchoring the lower boundary of what would become the Phase A trading range. A Secondary Test (ST) in mid\u2011December revisited the $2.72 zone, completing Wyckoff\u2019s initial \u201cstop\u2011action\u201d sequence.<\/p>\n Phase B unfolded through January: demand rebuilt, producing an Up\u2011Thrust (UT) in Phase B that briefly pierced $3.40 in mid January before supply re\u2011asserted itself. From that peak XRP traced a descending, low\u2011angle channel\u2014labelled the \u201cCreek\u201d\u2014with progressively lower highs and lows into early April. Throughout this descent, Charting Guy\u2019s overlay shows the familiar saw\u2011tooth of Wyckoff\u2019s internal testing, suggesting weak\u2011hand distribution rather than true distributional topping<\/a>.<\/p>\n On April 7 the market under\u2011cut range support, knifing to about $1.61, and immediately snapped back: the classic Spring of Phase C. A shallow Test of the spring followed near $2.00, satisfying Wyckoff\u2019s requirement for bullish confirmation<\/a>. From that point the analyst\u2019s projected path turns higher.<\/p>\n Phase D begins with what Wyckoff called Last Point of Support (LPS) between $2.35 and $2.55 in early May, followed by a steeper advance that drives through the February crest. This is followed by a Jump Across The Creek (JATC)\u2014a decisive thrust through the descending channel top and horizontal resistance at roughly $2.70.<\/p>\n The model then shows a price breakout above the mid-January high at $3.40 would constitute the Sign of Strength (SOS) around $3.40 in late May, completing the transition into Phase E. Afterwards, Charting Guy expects a second backing up into a first Last Point of Support (LPS) between $3.10 and $3.30 in mid-June, followed by an even steeper advance.<\/p>\n