XRP Price Surge That Caused 20x Increase in 2017 Makes a Comeback – TradingView

XRP Price Overview

XRP has experienced a bit of turbulence over the past three days, fluctuating between $2.195 and $2.25. Considering its peak of $3.3 in January, this fluctuation has brought it down from the highs of the past two months, yet the overall two-month candlestick still indicates a strong upward trend.

Interestingly, a significant trigger, which hasn’t been seen since XRP’s remarkable rally in 2017, has reappeared. That rally led to an impressive 20-fold price increase.

Technical Insights

A closer look at the technical patterns reveals a clear breakout structure over the last two months. An analysis of XRP’s price movements on the two-month chart shows that the cryptocurrency remains in a bullish setup over larger time frames. This analysis was shared by the crypto analyst JD on social media, suggesting that XRP is breaking out of a long-term triangle pattern established since its peak in 2018.

This triangle consists of a resistance trend line at the top and a gradually rising trend line at the bottom. XRP’s performance in late 2024 seems to have surpassed this upper resistance line, mirroring similar patterns from early 2017.

Notably, XRP reached a multi-year high of $3.3 after breaking through this trend line, although it faced a sharp decline post-conviction. Currently, it’s inching closer to the $2 mark.

Nevertheless, the presence of bullish crosses on the RSI suggests that positive setups are still in play. JD points out a possible 20-fold surge ahead.

Probabilistic Indicators

The stochastic RSI has shown a cross above 80, adding credibility to the current bullish environment. JD noted that this crossover last happened in 2017, just before XRP skyrocketed to a 20-fold increase within a three-month period.

His chart visually illustrates this, highlighting the intersections on the historical breakout. The stochastic RSI crossover is triggered when the %k line crosses above or below the %D line. For XRP, the bullish signal emerges above the 80 threshold on the two-month chart. This crossover led to XRP climbing from around $0.15 to $3.40 back in 2017.

If a similar narrative unfolds, it could set a target near $45. While this target might seem far-fetched given the investment needed for such a surge, the recent rally from the stochastic RSI crossover could indeed push XRP toward a new all-time high.