Did XRP Just Print the Exact Same 2024 Falling Wedge Pattern Seen Before a 600% Explosion?

Crypto YouTuber Blacksea has highlighted an XRP chart pattern he believes closely resembles a previous explosive move.

In a tweet, Blacksea argued that XRP has formed a falling wedge pattern similar to the one seen in late 2024. That setup preceded a surge of roughly 600%.

Sharing side-by-side charts, the analyst pointed to several similarities, including a prolonged downtrend, multiple lower highs, and a wedge breakout. From November 2024, XRP moved from $0.50 to $3.30 by January, marking a nearly 7x surge in just two months.

“Nobody is talking about this,” Blacksea wrote on X. He argued that the current setup closely mirrors the pattern that preceded XRP’s explosive rally last year.

Key Points

History Rhyming for XRP

The comparison focuses on XRP’s price action within a descending wedge formation. Blacksea’s chart suggests XRP may be following a path similar to its previous cycle. The setup includes several consolidation phases before a steep upward move.

In the current case, XRP has dropped about 70% from its previous peak of $3.65 over the last ten months. The coin is now trading around $1.10 amid an ongoing decline, with risk of further downside if key levels break.

The pattern formed over this nearly one-year period is being interpreted by Blacksea as a historically bullish structure.

However, the analyst acknowledged that history does not always repeat itself. He noted that similar market structures can sometimes lead to similar outcomes, but are not guarantees.

He also argued that investors who enter early and manage risk effectively are often best positioned to benefit if the pattern plays out as expected.

XRP Under Pressure After Losing Key Support

The bullish comparison comes as XRP faces notable short-term weakness. According to CoinMarketCap data, XRP fell 6.09% over the past 24 hours, trading around $1.11. The decline pushed the cryptocurrency below the key $1.20–$1.28 support zone, which had largely defined XRP’s trading range since February.

The breakdown occurred amid a broader crypto market selloff. Over the same period, Bitcoin dropped about 16% to roughly $62,100, after previously trading above $70,000 earlier in the week.

Community View

While some see the ongoing dip as a buying opportunity, others disagree with Blacksea’s view that another 600% price rally may follow. X user Mohamed Zorro remarked that past patterns are not necessarily predictive of the future.

Similarly, X user Virachocha noted that conditions from nine years ago and today are no longer the same. In other words, factors that helped XRP surge in 2024 may no longer be present, with the asset now facing a different market reality.

At the time, former SEC Chair Gary Gensler announced his resignation, and pro-crypto President Donald Trump had just been elected. This environment was broadly bullish for crypto, and assets like XRP benefited from it.

In the current case, the market is overwhelmingly bearish, with the fear index below 20. Earlier in February, it dipped to 5 before recovering slightly, but fear has returned as Bitcoin remains significantly below its recent highs.