XRP price surge similar to 2017, will history repeat itself?
Jakarta, Pintu News – In early May, Ripple showed volatile price movements, fluctuating between $2.195 and $2.25. Despite having corrected since reaching a peak of $3.3 in January, Ripple (XRP)’s two-month candlestick still shows bullish dominance, signaling that investors are still optimistic on the longer timeframe.
Technical Analysis Indicates Breakout Structure
Technical analysis on Ripple’s (XRP) two-month candlestick chart shows that the cryptocurrency is still in a bullish setup on the larger timeframe. Crypto analyst JD shared his analysis on social media platform X, pointing out that Ripple (XRP) has managed to break out of a long-term triangle pattern that has been consolidating its price since the peak of 2018.
The pattern formed by this triangle consists of a flat resistance trendline at the top and a gradually rising trendline at the bottom. In late 2024, Ripple (XRP) managed to break the upper resistance line, similar to what happened in early 2017.
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Stochastic RSI Shows Bullish Signal
One indicator that caught the eye was the appearance of a crossover on the Stochastic RSI above the 80 level. JD emphasized that the last such crossover occurred in 2017, before Ripple (XRP) recorded a 20-fold increase in three months. The chart shared by JD shows the crossover point of the SRSI line with yellow highlights during that historical breakout. The same crossover has now been confirmed on the two-month chart, signaling the potential for significant price gains.
Ripple (XRP) Price Outlook and Predictions
With the current market conditions still favorable, many crypto analysts and observers are optimistic about the future price prospects of Ripple (XRP). If current patterns and indicators continue to follow the same trend as in 2017, there is a high probability that Ripple (XRP) will experience a significant price surge. However, it is important to remember that crypto markets are highly volatile and are affected by various external factors. Therefore, investors and traders should always be vigilant and conduct in-depth analysis before making investment decisions.
Conclusion
With all the technical and historical indicators in favor, the upcoming period may turn out to be very exciting for Ripple (XRP) holders. Nonetheless, it is important to remain critical and pay attention to the global market dynamics which can change at any time.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. XRP Price Cross That Led to 20x Rally in 2017 Returns. Accessed on May 5, 2025
- Featured Image: XRP
