A Look Back at the 2017 Rally
Crypto trader CRYPTOWZRD has recently highlighted that XRP’s current price action is echoing its breakout structure from 2017. A chart shared by the analyst shows a repeating pattern of accumulation, followed by consolidation, and then a strong upward movement. This sequence is a significant technical observation because it previously led to XRP’s parabolic run toward a price of $3.30. The analyst’s claim is that if this historical pattern holds, XRP may be preparing for a similar rally to a price of $4.50 and potentially higher.
Key Levels to Watch: Support and Resistance
At press time, XRP was trading above the $2.8 mark, with a 24-hour trading volume of over $7.2 billion. The price is holding above a key support level at $2.47, which is considered crucial for maintaining market structure.
Another analyst, Javon Marks, emphasizes that as long as this level holds, prices may be prepping for a significant upside move. On the resistance side, the $2.94 level is a major hurdle for buyers. A clean move above this resistance could open up space for a stronger buying interest.
Recommended Article: XRP Bulls Eye Breakout As Moonshot MAGAX Gains Positive From Analysts
Gemini’s New Products Add Real-World Utility
In a separate development, the crypto exchange Gemini has rolled out a new credit card product that offers cashback in XRP. This is a significant move that places XRP at the center of new consumer-facing products and increases its exposure across trading and payments. The exchange also added support for RLUSD, Ripple’s new stablecoin, which can now be used for spot trading on Gemini’s U.S. platform. This rollout highlights XRP’s growing utility beyond speculation. It provides a real-world use case that can drive broader adoption and strengthen the token’s fundamental value.
Short-Term Volatility and Technical Confirmation
Despite the long-term bullish outlook, the short-term chart for XRP remains volatile. According to CRYPTOWZRD, a bullish daily close is a positive sign, but more confirmation is needed before a full-blown rally can be confirmed.
The analyst notes that one more healthy candle is necessary to give confidence to traders. The intraday price action is largely driven by Bitcoin’s recent movements, and if XRP fails to retest the $2.94 resistance, sideways movement could continue. A break above that level, however, could signal the start of a new, powerful rally.
XRP’s Jaw-Dropping Upside Potential
The price of XRP has historically been volatile, but a new regression model has sparked speculation that the altcoin could one day reach a jaw-dropping $200. Analyst EGRAG CRYPTO applied a linear regression on a logarithmic scale, with an R-squared value of 0.84754 indicating a strong historical correlation. The model outlines three potential outcomes: a move to $18 or $27, or a dramatic overshoot to $200, depending on XRP’s interaction with its historical price channel.
The Big Picture: A Path to $4.50 and Beyond
The confluence of a strong historical chart pattern and growing utility suggests a compelling path for XRP. The repeating 2017 breakout pattern, if it continues to hold, could see XRP entering a parabolic rally that targets a price of $4.50 and higher. Analysts have set ambitious targets, with some charts pointing to a possible move to $4.80. A clean break above key resistance levels would be the primary trigger for this move. The addition of new products like Gemini’s XRP cashback card also helps to strengthen the token’s fundamental value, providing a solid foundation for future growth.
