A recent XRP analysis from prominent crypto analyst Lord XRP (@Btiforcoinz) has fueled speculation of a surge of over 61,000%, with XRP potentially reaching an astonishing $353 if historical patterns repeat.
This prediction has sent ripples through the crypto landscape, with many wondering about the possibility of XRP printing such an astronomical rise.
#XRP surged by 61,000% back in 2017.
If XRP do the same again we will end up at $353!Lets break out this multi year triangle!🔥🔥🔥 pic.twitter.com/oUcYk7b5JG
— Lord XRP (@Bitforcoinz) January 16, 2024
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Lord XRP’s optimism hinges on the impending breakout of a multi-year symmetrical triangle, a technical formation suggesting a significant price shift. This prediction draws inspiration from XRP’s 61,000% rally witnessed six years ago, prompting the analyst to envision a similar trajectory leading to the $353 target.
XRP is currently trading at $0.549, and a surge to $353 will represent a 64,198.7% jump. Although this jump is astronomical, anything is possible in the world of crypto.
Delving deeper into XRP’s history reveals an even more awe-inspiring tale. In 2017 and early 2018, XRP embarked on a breathtaking journey, shattering previous records with a staggering 75,000% surge.
The journey began in December 2013, with XRP trading at around $0.06. Unfortunately, the digital asset went into free fall in the following months, falling to $0.00379 by June 2014. However, this was not the end for XRP, as investors were hopeful for a resurgence.
In October 2014, XRP finally broke free from its first symmetrical triangle, igniting a remarkable 600% rally resulting in a December 2014 peak of $0.028.
XRP’s journey continued as it began another price plunge, embarking on a descent that created a second, longer-lasting symmetrical triangle. Perseverance proved key once again, as XRP successfully conquered this hurdle in February 2017.
This victory sparked a historical climb, with XRP surging approximately 75,000% from its price of $0.005589 in February 2017 to its current all-time high of $3.84 in January 2018.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
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Can History Repeat For XRP?
Following its 2018 peak, XRP encountered formidable resistance, leading to the formation of two additional symmetrical triangles. However, we are on the precipice of a breakout from the fourth triangle, with mere months separating us from this potential turning point.
Another prominent analyst pointed toward a breakout from the same 6-year triangle late last year, predicting a surge to either $6.4 or $22.3 depending on when the breakout occurs. However, if history repeats itself, replicating the 75,000% surge witnessed in 2017 and 2018, it could propel XRP to a mind-boggling $412.
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