XRP Price Prediction: Can 2017’s Historic Rally Pattern Repeat?

Fibonacci Extensions Hint at Multi-Year XRP Breakout

XRP price is once again drawing attention as the market trend shows familiar patterns on its long-term chart. Analysts are pointing to structures that mirror its 2017 setup, the same one that preceded an over 11,000% surge. The crypto’s technical structure indicates that it could be making another significant move despite converging currently. History could repeat itself as this level will have price targets in the coming cycle in the double-digit range.

Analyst Amonyx referred to the 2017-2018 performance of the crypto in comparison to the existing structure, highlighting a possible fractal replay. The token has also suffered a mid-cycle correction like its previous trend, indicating a case of accumulation. Possible upside targets are indicated by Fibonacci extensions, as there is a possibility of upside extension of the market by about $23.63, $58.37, and $238.65 should the bullish setup materialize. These forecasts are based on repetition of the wave forms that have historically governed the expansion of major cycles.

XRPUSD 1W CHART | SOURCE: X

Additionally, the analysis shows that the token has been experiencing good trendline support in the larger time frames. Long-term gains above the $3.35-$6.25 threshold prove that a macro reversal happened since bulls regained control. Similarly, long-term selling pressure is on the decrease as shown by momentum indicators, illustrating that the coin is winding up to a breakout phase. Therefore, traders have been targeting growing volume and clear cuts above key resistance levels.

XRP Market Cap Rebounds

Within the wider market, there is a positive shift in sentiment on big assets due to a surging popularity of high-cap tokens and an overall stabilization in trading volumes. The capitalization of XRP has rebounded to almost $147.95 billion, a slight increase of 3.14 % following a bottom of around $140 billion, stabilizing after previous volatility. Also, the MACD and Stochastic RSI are moving in tandem with the possibility of a bullish crossover, suggesting that bearish momentum could be exhausted if accumulation returns. 

XRPUSD 1D CHART | SOURCE: TradingView

Hence, the asset might exceed the current $160-$170 billion asset range in the market soon, which will verify the change in the attitude of traders and investors.

What Next For XRP Price?

The current structure places XRP in a crucial phase of transition. Should it reclaim key resistance zones and maintain trendline support, it could follow its historical trajectory toward new highs. However, diminishing momentum and the inability to stay above $3.35 could prolong the period of consolidation.