Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst Chart Nerd has declared that XRP is set to mirror its 2017 cycle, when the price recorded a parabolic rally. He further revealed how high the altcoin could reach, with a double-digit price on the cards. XRP Could Mirror 2017 Cycle And Eyes Rally To $27
Chart Nerd statedthat XRP is gearing up for a 2017-style run and is unlikely to decline as low as $0.50. Instead, the analyst believes that the altcoin will hold the line above $2, which is the January 2018 candle close highs, and then record a parabolic rally to its Fibonacci extension targetsat $8, $13, $15, and $27. Related Reading XRP Could Mirror 2017 Style Surge: Here’s How High The Price Will Go If It Happens 7 hours ago
Chart Nerd was responding to an analysis from Captain Toblerone, who had earlier statedthat XRP would continue to bleed until it reached $0.50. He advised XRP holdersthat if they are still in profit, it is not too late to sell 50% of their holdings or more and keep the cash to buy other, cheaper altcoins.
As part of his bullish outlook for XRP, Chart Nerd also noted that many of the altcoin’s largest returns have come from large Q4 rallies. He revealed that XRP recorded gains of 426%, 1,064%, and 240% in Q4 2014, 2017, and 2024, respectively. As such, there is the possibility that the altcoin could mount another run in this fourth quarter. Source: Chart from Chart Nerd on X
The XRP ETFs are expected to launch this fourth quarter and could serve as a catalyst for higher prices for the altcoin, similar to the same impact that the Bitcoin and Ethereum ETFs had on BTC and ETH, respectively. Crypto pundit UnknowDLT had also warnedXRP holders not to sell their tokens in the next three months, noting that ISO 20022 global adoption is expected to occur by November 22, which could be positive for Ripple and XRP, by extension. A Rally To $21 Is Possible
In an X post, crypto analyst Mikybull Crypto suggested that an XRP surge to $21 in this final massive rally was possible. However, he added that his conservative targets are between $6 and $10, although he noted that anything is possible in crypto. Notably, the analyst has in the past alluded to the 2017 cycleas one of the reasons why the altcoin could stage another parabolic rally. Related Reading XRP Price Faces 25% Drawdown Risk, But This Technical Point Is Key 4 days ago
Meanwhile, crypto analyst Egrag Crypto also believes that XRP could rally to double-digits. He notedthat the altcoin recorded a 1,250% rally in 2017 and a 560% surge in 2021. In line with this, the analyst remarked that if history repeats itself, then the altcoin could rally to $33 or $17 based on the gains recorded in 2017 and 2021, respectively.
At the time of writing, the XRP price is trading at around $2.96, down over 2% in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $2.97 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com