XRP's 2017 Signal Resurgence: Will Ripple's Value Reach $10 This Cycle?
XRP exhibits a pattern reminiscent of its spectacular 2017 performance, with analysts anticipating a price target of $2.75 amidst bullish signals.
Ripple’s XRP is drawing interest due to favorable technical indicators hinting at a potential revival akin to its 2017 bull run. As prices approach critical resistance points, market traders are gearing up for possible positive momentum.
Revisiting Historical Trends
A recent chart analysis from the expert known as ChartNerd draws parallels between XRP’s current situation and its price movements from 2016 to 2017. Historically, the coin showcased a double-top pattern followed by a notable price drop, which was eventually followed by an impressive rally. At present, a similar scenario is emerging as we head into 2025, setting off alarms for a possible breakout.
"$XRP: Same Set Up, Different Cycle? 🚀 Double Top ✅ Wick Drop ✅ Explode 🍿 Identical Monthly Stoch RSI Reset 🔁" — ChartNerd on Twitter
Interestingly, the Stochastic RSI has reset to levels that suggest upcoming bullish movement, reminiscent of the period leading up to XRP’s previous price increases.
Analyzing a three-day scope, the analyst Steph is Crypto noted that a bullish MACD crossover might be developing. The upward curvature of the MACD line toward the signal line, combined with a narrower histogram, signals that a trend shift may be on the horizon.
If similar patterns unfold as they did last year, traders could be looking at substantial gains.
“Bullish MACD cross imminent,” the analyst remarked.
Monitoring Liquidity and Resistance
Currently, XRP is priced around $2.15, showing a slight decline of over 1% from the past day and down 2% compared to the last week, based on CoinGecko statistics. The asset boasts a market capitalization close to $129 billion, ranking fourth within the crypto sector, with a trading volume exceeding $3.29 billion in the last 24 hours.
Analysts are paying close attention to the $2.28 threshold. A successful breakout beyond this point could propel XRP toward $2.75. Notably, a significant liquidity zone remains at the $3 mark.
“The most substantial liquidity cluster on the long-term heatmap remains untapped above $3,” stated Steph Is Crypto.
Recent spikes in trading volume may indicate heightened interest from institutional investors and traders.
