For the past few days, XRP seemed to be the only crypto project with a noticeably remarkable market presence and activities. Other notable cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) remain caught in the web of the bearish crypto market trend that has resulted in successive losses for most crypto assets.
The current positive trend has sent XRP beyond the unimpressive 2-year market pattern. Notably, the last time XRP witnessed a successive and prolonged decline in price was between 2014 and 2017.
Chartist JD’s Stance On XRP’s Recent Bullish Run
In one of his most recent tweets, chartist JD spotlighted XRP’s recent rally in his regular analysis tagged, “Today asset price action analysis.” Per data from a daily chart he shared, JD brought the attention of his 27.1k Twitter followers to how XRP endured a bearish run from December 2014 to April 2017. In April 2017, when XRP finally recovered, it soared by 504x over one year, attaining an all-time high value in January 2018.
#XRP – We just Broke 2year trendline! 😱😵
In 2017, after CONFIRMED breakout of 2year trendline, we did a 504x in 1-year! Can we break 0.52 end of week?
Retweet/Like for $XRP/USD monthly chart update tomorrow!
(Patreons, I'll post 5 XRP charts tomorrow after MONTHLY close!) pic.twitter.com/96iG9IueKV
— JD 🇵🇭 (@jaydee_757) May 31, 2023
Surprisingly, XRP was sold at a rate of $0.03 as of December 18, 2014, before it got swept away by a bearish storm that saw the token decline in price for about two years, printing lower lows and lower highs.
XRP continued to decline until March 10, 2017, when it suffered an 85% loss from its December $0.03 selling price. The 85% loss implies that the cross-border token sold for $0.0045.
How XRP Is Replicating Similar Patterns?
Over the past two years, XRP market trends followed similar patterns described above between 2014 and 2017. XRP dropped from as high as $1.9 on April 14 and continued like that despite the periodic spikes witnessed in September 2022 and March this year
However, XRP’s recent market performances indicate that the token has finally broken out of the bearish stronghold following its new solo run.
Recall in one of our previous news stories where Santiment, a well-known crypto behavior analytics platform, identified XRP’s 2nd & 3rd largest address activity spikes. These spikes are indications of a massive solo run.
Per CoinGecko, XRP’s price at press time was $0.509074, reflecting a 1.7% decline. A 504× surge implies that the coin would rise as high as $180.