A prominent analyst has identified similarities between the current price action and the 2017 run, suggesting that XRP is gearing to melt faces.
Notably, despite the latest resistance to the recent market recovery push, XRP has shown resilience, maintaining a 6.85% gain over the past week. For context, Bitcoin (BTC) only boasts a 1.21% increase within the same period, while Ethereum (ETH) has gained 1.16%.
“XRP Gearing to Melt Faces”
With XRP firmly holding above the $2.5 level, as it trades for $2.58 at press time, market analyst Ether Nasyonal has suggested that the altcoin could be moving toward an explosive run similar to what it observed from 2013 to 2018.
According to Ether Nasyonal, “XRP is quietly gearing up to melt faces.” He suggested that most investors are not aware of the token’s current bullish positioning, insisting that they are not ready for the imminent explosive run. This aligns with recent bullish commentaries from Cameron Scrubs, founder of Tradeship University.
However, Ether Nasyonal based his own comment on technical data. Specifically, the market analyst called attention to a previous analysis in which he identified a recurring pattern on the weekly XRP chart. Notably, the pattern led to XRP’s 2017/2018 run, and Ether Nasyonal believes it could result in another rally this time.
XRP’s Historical Price Trend
For context, after reaching the $0.0614 ATH resistance in December 2013, XRP collapsed considerably in the following months. Interestingly, when it recovered, the initial attempt to reclaim the December 2013 ATH failed, with XRP facing a lower resistance point at $0.0280 by December 2014. Ether Nasyonal’s chart identified this as a new demand zone.
Following the $0.0280 resistance at this demand zone, XRP collapsed again and continued to underperform for over two years. However, by March 2017, the token recovered and eventually overcame the demand zone at the December 2014 resistance of $0.0280. From here, it soared again to the higher December 2013 ATH resistance of $0.0614.
After this, XRP pulled back to again retest the demand zone at $0.0280 before rebounding to finally surpass the $0.0614 peak. This allowed the token to reach a new all-time high of around $3.3 by January 2018.
A Repeat of the Pattern
Nonetheless, as was the case in December 2013, XRP corrected after the $3.3 ATH resistance. During the 2021 bull run, it again targeted the $3.3 peak, but failed to claim it. Instead, it faced a lower resistance at $1.9 in April 2021 before correcting for years. This formed a new demand zone.
When XRP recovered in November 2024, it overcame this demand zone at $1.9, soaring to hit the 2018 ATH resistance at $3.3 by January 2025. XRP has been flirting with this resistance throughout this year, occasionally dipping back to the demand zone at $1.9. This same pattern occurred in early 2017 before the explosive surge.
Now that XRP has again retested the demand zone, Ether Nasyonal believes it could trigger a run similar to the 2017 rally. However, the analyst failed to present any price targets for this imminent upsurge. Despite this, analysts such as EGRAG Crypto have suggested that XRP has the potential to reach $27.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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