- A market analyst predicts that XRP’s current rally is just the beginning of a significant upward trend drawing parallels from its 2017 surge.
- Analysts predict that following historical patterns, XRP could achieve new all-time highs, with potential targets ranging from $11 to $27.
XRP has become a real buzz in the cryptocurrency landscape. Significantly, Ripple, the fintech company powering the XRP network has also made sure the token stays in the limelight with its innovations and partnerships.
Focusing on XRP, the digital asset’s recent performance has been nothing short of impressive, capturing the attention of crypto enthusiasts and analysts alike. In this case, one market analyst under the tag CryptoWZRD, has taken to the X platform expressing his bullish take on the digital asset.
⚠️ LITERALLY ART 👩🎨🎨
I’m sorry if you think it’s over, it’s barely begun.. 👀
🚨 It cannot get any simpler.. a 2017 style big boom is coming for $XRP 🚀
See you at a new all time high… 🤩 pic.twitter.com/uSI03VJfxJ
— CRYPTOWZRD (@cryptoWZRD_) December 11, 2024
The analyst believes the current rally is merely the beginning, with parallels to XRP’s explosive 2017 trajectory signaling massive upside potential.
Notably, the cryptocurrency markets have been recently facing headwinds. In fact, a huge number of token’s including king of crypto Bitcoin have recorded price declines. Nevertheless, the asset has surged by an incredible 283% in November. Moving forward, the asset has maintained this momentum into December.
At the time of writing, XRP has recorded a slight decline of 2.81% in the daily charts. However, things are different in the weekly and monthly charts. Trading at $2.37 the asset has recorded gains of 4.30% and 251.78% respectively.
This price momentum has surpassed market heavyweights including Bitcoin (BTC) and Ethereum (ETH) which have posted relatively modest monthly gains of 3.55% and 5.68%, respectively.
XRP Repeating 2017 Performance
CryptoWZRD has highlighted historical patterns that suggest XRP is mirroring its 2017 price action. A key feature of this fractal pattern is XRP’s tendency to form long-term symmetrical triangle structures, where resistance levels flip into support before dramatic breakouts.
In 2017, XRP experienced a similar setup. After a 284% rally in March, the asset faced a sharp 44% retracement in early April, only to recover later that month. This was the precursor to a remarkable extended rally, culminating in an all-time high (ATH) of $3.3 by January 2018.
Fast forward to 2024, XRP’s November surge has followed an almost identical path. While the asset is currently navigating some bearish pressure, it appears more resilient than in the comparable April 2017 phase, thanks to stronger support levels. CryptoWZRD noted that XRP’s previous resistance has already flipped into a robust support base, setting the stage for a sustained uptrend.
The Bull Run Is Just Beginning
According to CryptoWZRD, XRP’s recent consolidation is merely a pit stop in a much larger rally. “I’m sorry if you think it’s over, it’s barely begun,” the analyst remarked. Drawing on historical parallels, he suggested that XRP is primed for a prolonged bull run, potentially leading to new ATHs in the coming months.
If XRP continues to follow its 2017 fractal, analysts forecast substantial upside. Projections for this bull run range from $11 to an ambitious $27, depending on the broader market dynamics and adoption rates.
