XRP was already there by roller coaster over the past few days, having fallen in an accident next door the rest of the cryptocurrency market. The disaster caused the price of XRP to drop to a low of $1.64 before rising to $2.36, with volumes surging 164% above the 30-day average. This flash crash caused a noticeable drop in the XRP price chart, which the technical analyst says is resembles the 2017 pricing structure this suggests that the cryptocurrency will soon enter massive growth.
The 2017 and 2025 XRP configurations show striking similarities
The recent XRP Flash crash caused caught attention cryptocurrency analyst known as ChartNerd on the social media platform X. The analyst noted similarities between XRP’s price structure in 2017 and the current setup for 2025. The post included two charts showing similar pre-euphoria moments that previously led to XRP’s most explosive bull run in 2017.
In 2017, XRP’s price action caused a pre-euphoric plunge that wiped out 58% of its value. This decline was very short-lived, however, as the coin ultimately surged 5,361% to fresh all-time highs. The rally lasted several months and resulted in the price of XRP rising from around $0.007 to a then-high of $3.40 in 2018.
The recent price crash appears to have created a negative wick that closely mirrors that of 2017. Following the market-wide crash, the token rebounded from lows around $1.60 to reach above $2.30, pointing to a possible recovery phase that could resemble the start of exponential growth in 2017.
XRP 2017 vs. XRP 2025. Source: @ChartNerdTA on X
What does this mean for XRP?
The similarity between 2017 and the current setup provides a bullish outlook for the altcoin in a landscape that is currently full of bearish momentum. The analyst noted that the $2.40 and $2.00 zones currently constitute an essential support line for XRP, and holding this range could pave the way for an upward trajectory leading to fresh price highs.
If XRP repeats its 2017 rally, target price based on current price levels it would be around $13.50. Repeating such a move in 2025 would require larger inflows of funds than the growth of 2017. These inflows can only reach participation of institutional investorswhich will slowly recover from recent market-wide volatility.
An essential factor that could speed up this process is the approval of i introduction of Spot XRP ETFs to the market. The approval of such ETFs has already been widely speculated within the XRP community, and their introduction will undoubtedly open up the cryptocurrency to institutional investors.
At the time of writing, XRP is trading at $2.38, down 22% in seven days. If we follow the pattern from 2017, XRP may spend several weeks consolidating around current price levels before beginning its anticipated rally.
Featured image from Pexels, chart from TradingView
