Is Ripple (XRP) Ready for Another 1500% Surge Like 2017?
- XRP could experience a 1500% surge, potentially hitting $27, similar to the 2017 rally.
- The price of XRP is currently above the Bull Market Support Band, indicating bullish signals.
- XRP’s historical dip to the Purple Foundation suggests a potential for massive price growth.
Ripple (XRP) indicates that it could be gearing up for a massive surge, mirroring its 1,500% jump in 2017. On Thursday, in an X post, EGRAG CRYPTO mentioned that XRP is primed for another pump, estimating the price may range from $1.71 to $27 in the future.
The Bull Market Support Band (BMSB) is an outlook that remains crucial to this forecast and an essential measure for market dynamics. Egrag notes that XRP is trading above the BMSB, and this shows that the asset is bullish. This is coming after he was able to predict that XRP would revisit the BMSB, which has already become a reality.
Historical Precedents for XRP
First, by using historical precedents, Egrag shows the importance of looking at past experiences in forming expectations. Specifically, XRP fell steeply to the Purple Foundation, a key support level, and nearly made contact with the BMSB, after which it surged by 1500% in just four weeks. XRP is also claimed to be on the same trend today, with the price coming down to the Purple Foundation and being in sync with the BMSB.
Related: XRP’s Breakout Confirmed: Monthly Close Signals Big Moves
If the price movement continues in the same pattern as in 2017, XRP has more potential to get another spike, starting at $1.71. The target for the price could be Fib 1.618, the common Fibonacci retracement number that helps project likely price levels for an asset. This would place XRP’s price at around $27, much higher than the current value of XRP prices. As of press time, XRP trades at $2.41, down by 5.13% in 24 hours and a 24.34% decline over the past week.
Such potential has attracted the attention of the crypto community. Investors and traders watch closely for any movements in XRP. Looking at today’s market history and indices, XRP is preparing for another remarkable run. The next weeks will be decisive in terms of repeating the same trend and continuing the growth of XRP or a market correction.
The post Is Ripple (XRP) Ready for Another 1500% Surge Like 2017? appeared first on Cryptotale.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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