Crypto traders are feeling excitement over XRP after a massive 35% price gain over the past week — with many speculating if the cryptocurrency is due for a potential breakout.

“With XRP making an emergence this week, bullish narratives have erupted,” crypto analysis firm Santiment wrote in a July 16 X post following on from several crypto commentators who shared bullish predictions about XRP on the social media platform.

“We might be about to witness one of the most significant breakouts in crypto history,” pseudonymous crypto trader Crypto Michael wrote on X, pointing to a bullish pennant pattern forming on XRP’s price chart over seven years — which appears when the price falls inside a triangle pattern following a strong move upside.