A rocket with XRP on it flying into space
XRP Flashes 2017 Parabolic Pattern – Is a Big Rally Imminent?
In Brief
- • An analyst claims XRP is exhibiting a chart pattern similar to its 2017 setup suggesting a major pump.
- • While some see potential for significant gains, another historic rally is less likely now.
- • XRP remains range-bound between key support and resistance levels, delaying such rallying.
As the crypto market struggles to establish a clear trend, a crypto analyst has identified a bullish pattern that resembles that of 2017 for XRP. If confirmed, the pattern could potentially bring some parabolic move to XRP.
The analyst shared data on 29 November revealing that XRP has formed a chart pattern that he claims is exactly like that of 2017, adding that even the current “vibe” is like that of the year which was a historic one not only for XRP but other crypto assets as well.
Will XRP Repeat 2017 Rally Soon?
The year 2017 was a historic one for the crypto industry that marked one of the biggest bull runs ever seen in the industry. Bitcoin rose from a meager $200 to $20,000, a 100X increase within a year, but the increase for XRP was even far more dramatic. The token rose from $0.006 to $2.30 in the same year, marking a 30,000%.
No such rally has ever been witnessed again in the crypto market since, although the market has grown to over $3 trillion in value. However, the chart shared by this crypto analyst suggests that XRP may be about to see that kind of unprecedented rally once again.
Meanwhile, things have changed a bit since 2017. There are many more crypto assets, roughly 10,000 actively traded assets according to Coinmarketcap as compared to the less than 800 in 2017. The sheer number of assets means investors are divided, thus reducing the chances of such a rally, but also because of its size and age.
Moreover, some analysts who have identified a similar pattern can see a 10X pump but not anywhere close to a repeat of the 30,000% seen that year, which would move the current price of $2.19 to $657.
How XRP has Done so Far
XRP has not seen a strong price movement since it dropped from its 2025 high of $3. The token has been range-bound having $2.0 as a strong support and $3 as a key resistance that it has not been able to break through and hold.
At the moment, analysts have been speculating that it could surge to higher prices, some calling $5 based on the partnerships and Ripple’s payment infrastructure. Even if a 2017 rally will be repeated, it probably won’t happen now.
More Must-Reads:
XRP Whales Just Nuked 460M Tokens
XRP Springs Back to Life off Major Support
Retail Dumps XRP Aggressively – And Analysts Say That’s Bullish
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