TL;DR
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XRP surged by double digits in the past week, driven by Trump’s crypto reserve announcement. Analysts see parallels to 2017, predicting a potential surge to somewhat ridiculous levels.
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On the other hand, some warn of a bearish H&S pattern, suggesting a pullback unless XRP clears $2.85.
What Could Be Next for XRP?
Despite the experienced volatility, Ripple’s native token remains one of the best-performing leading cryptocurrencies, with its price soaring by almost 15% in the past week and currently trading at around $2.57. Perhaps the most evident factor contributing to its rally is Donald Trump’s announcement that his administration will create a strategic crypto reserve that will include XRP (among other assets).
Pro-Ripple market observers (who are usually quite vocal) have noted the token’s resurgence and made interesting price forecasts for the near future.
The X user JAVON MARKS suggested that the pattern XRP broke out of in November 2024 resembles that of 2017. As such, the analyst expects a bull run “greater than many think or even imagine to possible.”
CrediBULL Crypto said the asset’s valuation has declined by 15% from where they took profit, and the trader now doubts they will get another chance to increase their exposure at prices below $2.
“OI has completely reset back to levels it was at before our 5x impulse off the lows, spot premium is steadily increasing here at the highs, and funding is even flipping negative,” they stated.
Overall, the analyst claimed that XRP looks “incredibly healthy here, and any dips that we may get are a gift.”
For their part, EGRAG CRYPTO recently outlined a truly shocking prediction. The X user maintained that XRP could be gearing up for its next “big leap” due to several factors, such as a retest of “the bull market support band” and a “noise consolidation” at the $2-$3.40 range.
They reminded that in 2017, the coin followed “a classic Fib extension move, smashing Fib 1.618, consolidating, then making another parabolic move to Fib 2.236.” The analyst thinks that if history repeats, this could result in a price explosion in the $27-$222 range.
Such high levels would require XRP’s market cap to skyrocket to at least $1.5 trillion. The current capitalization of the asset is less than $150 billion, making the prediction somewhat unlikely.
A Reversal in the Cards?
Contrary to the overall bullishness among industry participants focusing on XRP, some believe a pullback is not out of the question.
One X user recently suggested that the asset’s pattern remains on “H&S watch,” envisioning a potential bearish reversal. The market observer claimed that XRP should soar above $2.85 to negate the chances of a correction.
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