XPR Signals 60,000% Surge After Five-Month Downtrend—Will the 2017 Rally Return?

▲ XRP, Gold/ChatGPT-generated image

Analysis suggests that a technical signal that appeared just before XRP’s record-breaking surge in 2017 has been detected again on the XRP price chart.

According to cryptocurrency media outlet NewsBTC on February 24 (local time), XRP has recorded five consecutive months of decline, entering its longest bearish phase since late 2016. However, experts note that the current trend closely resembles the pattern seen just before the massive rally in 2017, drawing significant market attention.

Market analyst Sam Daodu stated in a recent report that the current monthly XRP chart is replicating the pattern observed between October 2016 and February 2017. At that time, XRP declined for five straight months, forming a bottom before soaring 7,000% in just two months, eventually achieving a total gain of 60,000% by early 2018. Daodu assessed that the current price stagnation and weakening selling pressure are similar to the compression phase that preceded the explosive rally in the past.

However, the analyst cautioned that a surge of tens of thousands of percent similar to the past is realistically unlikely. In 2017, XRP’s market capitalization was below $300 million, whereas it now stands at approximately $88 billion. If it were to rise by 60,000% again, XRP’s market capitalization would exceed the combined value of global stock markets.

Nevertheless, the possibility of a meaningful recovery remains open. Daodu projected that if XRP maintains its current bottoming pattern, a short-term rise of 150% to 250% would be achievable, corresponding to a price range of approximately $3.65 to $5. He emphasized that, unlike the previous cycle driven largely by speculative retail demand, this cycle’s upside momentum will depend on institutional capital inflows and developments such as the potential launch of a spot ETF.

Currently, XRP is testing support around the $1.30 level while seeking its next directional move. Investors are watching closely to see whether the technical indicators signaling past glory will lead to a repeat performance or whether XRP will chart a new, more moderate upward trajectory amid a changed market environment.

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