According to crypto expert Galaxy, the recent price trend of XRP resembles its 2017 bull market, during which it saw substantial growth. He anticipates that XRP could potentially surge into double-digit figures, echoing its 2017 rally.
XRP Price To Rally To Double Digits As It Mirrors 2017 Rally
In a recent post on X, Galaxy suggested that the price of XRP could potentially surge into double digits, mimicking its 2017 rally. He explained that XRP is nearly replicating the breakout pattern from 2017 after six years of holding steady. The analyst further pointed out that prolonged consolidation often leads to larger price movements.
According to the analyst’s chart analysis, it appears that the price of XRP could potentially spike up towards $40 following a breakout. The analyst is quite certain that such a dramatic increase is possible, as you may recall, XRP soared by an astounding 61,000% in just 280 days back in 2017. The chart further indicates that this target could be reached sometime in the coming year.
Cryptocurrency expert Egrag Crypto predicts that the value of XRP may rise to anywhere between $27 and $33 during this market phase. He thinks it’s possible due to a reoccurrence of XRP’s 2017 performance in the market. Factors like potential XRP ETFs and Ripple‘s growth could potentially cause such a price increase, according to his analysis.
Similarly, established cryptocurrency figure Raoul Pal agrees that XRP’s price may surge in the near future from its current point. He pointed out a bull flag pattern emerging for this altcoin, which came after its consolidation period following the significant rally of last year. Pal anticipates that XRP will continue to trend bullishly post-consolidation, potentially reaching as high as $5. This potential increase would set a new record high (ATH) for the token.
The Altcoin In A Bullish Phase
According to crypto expert CobraVanguard, the price trend for XRP appears to be on an upward trajectory, as he points out a falling wedge formation. This pattern suggests that XRP could potentially reach $3. Yet, it’s important to note that this prediction may not come to fruition if the falling wedge is broken by strong bearish candles in a downward direction, which could invalidate the setup.
As a researcher, I’ve been closely observing the price movement of XRP and have identified it as being in the Wave B of its corrective move within Wave 2. Following this pattern, I anticipate that XRP could potentially reach its current all-time high once the B and C waves are completed in this corrective wave. I remain optimistic about the long-term potential of XRP, believing it could even surpass double-digit figures. Previously, using my Elliott Wave Theory analysis, I predicted that XRP might reach $18.
Currently, as I’m typing this, the price of XRP is approximately $2.38 per unit. Over the past 24 hours, it has shown an increase, based on information from CoinMarketCap.
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2025-05-21 19:42