XRP price has been a major player in the cryptocurrency space for over a decade and has consistently ranked high. Ripple’s legal dispute with the SEC has impacted the price of XRP. Despite Ripple’s recent legal victory, XRP’s price rose only 2% in December, from $0.61 to $0.63. Legal uncertainty appears to have suppressed XRP’s growth during this period.
Investors are worried that XRP has failed to break the much-anticipated $1 level, so how can XRP skyrocket 600% in a matter of months? So if you think XRP is dead, wait a minute. There are analysts who are elevating historical trends that have never been highlighted before.
Analysis of XRP price lag and historical pattern rise
A recent analysis by market expert JD has sparked discussion about a potentially overlooked trend in the XRP market that is reminiscent of patterns seen in the 2017 cycle. Notably, while most cryptocurrencies have been on the rise since October 2015, XRP has shown pace during this period. This means that almost all tokens will move as the uptrend gains momentum, but historically, XRP has tended to pump much later than other tokens.
JD highlighted the historical similarities between the 2017 cycle and current XRP market behavior. In the past, XRP initially lagged other assets, causing some investors to switch to higher-performing options and ultimately miss out on XRP’s massive rise.
In the current scenario, the overall market surge in October has not been reflected in a similar pace of growth for XRP compared to major cryptocurrencies such as Bitcoin and Solana. This has sparked frustration among some XRP investors and is similar to sentiments observed during the 2017 cycle, when XRP’s underperformance led to a decline in its market dominance.
Fractionated Cryptocurrency
Opinions are divided on the likelihood of XRP mirroring the 600x surge seen in 2017. Although there is skepticism about replicating this incredible growth, JD suggests that technical indicators suggest a potential 8-10x increase in the value of XRP. This forecast represents a significant rise, with the stock likely to reach $6.21 from its current value of $0.6210 when the expected rally unfolds.
At this time, he spoke calmly in response to a follower’s question about purchasing XRP. When there is fear, I buy more.. When there is fear, it rises to 0.28..0.33, 0.45.., 0.59… Patience is key.”
Is it possible for XRP price to break through?
Overall, the potential price movement of XRP, which has formed a symmetrical triangle pattern since July, represents an uncertain outlook. The RSI indicator at 50 reflects an indeterminate trend as XRP breaks above the pattern or falls below the $0.58 support level. The significant XRP whale recently amassed 360 million XRP. A break above the triangle could lead to a 30% surge to $0.82, while a break below $0.58 could send XRP down to $0.55.