XRP at Crucial Crossroads: Risks and Opportunities Ahead of Potential Surge
Emily HarrisXRP on edge of final 2017-style breakout after 190 days of silence, but there's big catch[...]
XRP Echoes 2017 Cycle, Hinting at Potential Explosive Move
Veteran crypto investors are experiencing a strong sense of déjà vu as XRP's recent chart patterns mirror its 2017 trajectory. This uncanny resemblance has sparked speculation about the possibility of an impending explosive move for the digital asset.
In 2017, XRP spent approximately 210 days in a consolidation phase before embarking on one of its most historic rallies. Now, fast forward to the present, XRP has been trapped in a sideways pattern for 190 days and counting, leading analysts to draw comparisons to the previous cycle.
One analyst suggests that if history repeats itself, XRP could be just "2-4 weeks away" from a significant price jump. The weekly chart showcases the consolidation zone, with the $2.20-$2.80 range serving as a holding pattern for over six months, a structure similar to the price coiling seen before XRP's last big run-up.
However, some market participants are still on the lookout for one last shakeout before the potential liftoff. Earlier price activity showed XRP dipping below $2.20 and nearly reaching $2.07, with experts predicting a possible drop to the $1.90-$2 range. This sweep has not occurred yet, leading one trader to caution, "If XRP starts shooting up from here, I'd be 30% careful," suggesting that a final dip in liquidity could be necessary before a genuine breakout.
The short-term chart supports this view, displaying a sharp drop followed by a steady recovery, but no clear return to previous highs. Currently, XRP is trading at around $2.15, caught between hesitation and anticipation.
The main takeaway is that this could simply be a lull before the next big storm. If XRP follows the same path as in 2017, a break above the current consolidation could pave the way for the kind of move that has been missing in this cycle. However, some investors may remain unconvinced until the $1.90 zone is swept clean, a scenario that could provide the necessary catalyst for a potential breakout.
