- XRP could see 10x rally, repeating a 2017 pattern.
- Analyst predicts bullish surge if XRP holds key $1.20 support.
- XRP’s rebound suggests potential for explosive price movement ahead.
XRP is capturing the attention of traders and analysts alike, with a prominent market expert predicting a significant price surge. According to ChartNerd, a technical analyst who shared his insights on X, XRP is following a pattern similar to the one observed in 2017, which ultimately led to a remarkable 25x rally. ChartNerd suggests that this historical behavior could indicate a potential 10x rally from XRP’s current price level.
ChartNerd pointed out that XRP’s recent price action closely mirrors the pattern seen during its historic run in 2017. During that time, XRP experienced a pullback before testing and holding the 3-month 20 EMA, a critical support level that helped propel the token higher.
It appears XRP is once again pulling back to this same support zone, which could set the stage for another explosive price movement. ChartNerd believes that, although the upcoming rally might not match the 25x gain of 2017, it could still deliver an impressive 10x return from the current price.
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Analyst Signals 10x Upside While Flagging Critical Support
The analyst emphasized that XRP’s bullish potential hinges on its ability to hold above the 20 EMA, currently situated around $1.20. If XRP fails to stay above this level, ChartNerd warns that the bullish outlook could quickly be invalidated. A close below this crucial support level would signal a potential shift in market sentiment, pushing XRP’s price lower.
As of now, XRP is trading around $2.18, marking a solid 22% rebound from its recent pullback. This recovery shows that bullish momentum remains intact, although the cryptocurrency is still approximately 40% below its all-time high of $3.66. While the path to a 10x gain is not guaranteed, ChartNerd’s analysis has sparked renewed interest in XRP, as traders await the next key move.
With this new technical insight, traders are watching closely for any signs that XRP will continue to follow the 2017 pattern. If the price manages to stay above the key support levels, the anticipated rally could pave the way for a powerful move in the short term.
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