XRP is retesting a key support level, and some analysts believe the altcoin could be poised for significant growth in the coming months. They point to signs of a potential trend reversal and similarities to its 2017 market behavior.
XRP Positioned for Potential Growth
On Friday, XRP dipped to a 12-day low around $2.02 before recovering. The cryptocurrency has been trading between $2.05 and $2.35 for nearly two weeks, mostly hovering in the mid to lower part of that range.
Analyst Sjuul from AltCryptoGems noted that XRP’s structure is improving, particularly after a recent bullish breakout that established a higher high. This broke a pattern of consistently lower lows and lower highs that had been in place since August, potentially setting the stage for an upward reversal. Sjuul emphasized the importance of maintaining this new bullish structure by forming a higher low on the next price dip.
Meanwhile, analyst ChartNerd observed a notable parallel between XRP’s current price action and its 2016-2017 pattern, which preceded a massive rally to its previous all-time high. Back then, a breakout from a multi-year symmetrical triangle was followed by an ABC consolidation phase before a 1,500% surge. A similar triangle breakout has occurred recently, and ChartNerd suggests XRP is now in the Wave C phase of its ABC consolidation. While a deeper retracement is possible if support at $1.80 fails, he believes the repetition of this cycle formula signals a potential expansion toward $8, $13, or even $27—gains of 300% to 1,250% from current levels.
Q1 Close Holds Key to Direction
Despite this bullish outlook, ChartNerd also issued a caution for the next two months. He warned that XRP has just over two months to avoid confirming a bearish three-month Heikin-Ashi candle formation, which could otherwise risk a significant correction.
He explained that in the past—such as in 2014, 2018, and 2021—a red bearish candle on this three-month chart following a major rally has typically signaled the start of a downtrend or a prolonged consolidation period. XRP is beginning to form such a candle now and has until the end of March to close the quarter positively and invalidate this pattern.
“If we see a full-bodied three-month bearish Heikin-Ashi candle close, we could be looking at a deeper correction lasting six to twelve months,” ChartNerd concluded.
As of this writing, XRP is trading at $2.05, down 1.7% over the past week.
Frequently Asked Questions
Of course Here is a list of FAQs about the topic Will XRP Follow Its 2017 Surge Analyst Predicts a 1250 Rally designed to be clear concise and helpful for all levels of interest
Beginner Core Concept Questions
1 What does a 1250 rally for XRP actually mean
It means a prediction that the price of XRP could increase by twelve and a half times from its current level For example if XRP is at 050 a 1250 increase would theoretically bring it to around 625
2 Who is making this prediction and should I trust it
The prediction comes from a specific financial analyst Its important to remember that this is a personal prediction not a guarantee Always do your own research and never invest based solely on one opinion
3 What happened with XRP in 2017
In 2017 during a massive crypto bull market XRPs price surged from around 0006 in early 2017 to an alltime high of about 384 in January 2018an increase of over 63000 This historic event is often used as a benchmark for its potential
4 Why are people comparing now to 2017
The comparison is driven by a few factors the resolution of XRPs major lawsuit with the SEC a general positive sentiment in the crypto market and technical chart patterns that some analysts believe resemble the setup before the 2017 boom
Advanced Market Analysis Questions
5 What are the main reasons an analyst would predict such a huge rally
Common reasons cited include
Legal Clarity The July 2023 court ruling that XRP is not in itself a security removed a major overhang
Market Cycle The crypto market operates in roughly 4year cycles and 20242025 is widely expected to be the next bull market phase
Adoption Utility Increased use of Ripples technology could drive demand for XRP