Analysts Spot 2017 Déjà vu in XRP Charts, Indicating Impending Mega-Surge

Article Highlights
Experts believe that XRP’s chart shows a similar pattern to 2017, indicating a potential increase in price.
If the MACD indicator crosses above 0, it could further support the predicted upward trend.
However, despite these optimistic predictions, XRP’s current value and recent decline tell a different story.
Renowned crypto market analysts JD and The Crypto Sniper have recently presented intriguing charts that suggest a significant rally for XRP, Ripple’s associated cryptocurrency. These charts draw parallels to XRP’s notable surge in 2017.
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Could history repeat itself for Ripple’s associated cryptocurrency? Let’s delve into the insights shared by these experts.
A Look into XRP’s History
JD, an experienced crypto analyst, has meticulously studied XRP’s historical price movements and identified an interesting pattern. He has discovered a symmetrical triangle shape in XRP’s chart from late 2013 to early 2017, similar to the precursor of the significant surge witnessed in 2017.
#XRP – monthly close is Wednesday! Currently looking at the Symmetrical Triangle & MACD
Last time we were w/in a Symmetric Triangle, MACD crosses above 0 which cause the breakout w/PARABOLIC MOVE!
All I know is 2024 will be the year!
RT/Like for monthly update next week!…
pic.twitter.com/ckMVnpg1kD
— JD (@jaydee_757)
January 28, 2024
During this intriguing period, XRP faced resistance after a decline from its peak in December 2013, leading to the formation of a symmetrical triangle. Despite a drop in January 2017, XRP experienced an impressive surge shortly after the capitulation event. The breakout from the symmetrical triangle propelled XRP to skyrocket by a staggering 66,100%, rising from a low of $0.005 in February 2017 to a peak of $3.31 in January 2018.
Now, JD sees a similar pattern emerging, suggesting that XRP may be poised for another significant price increase, despite recent underperformance compared to Bitcoin.
Read More: XRP Price Prediction: Analyst Expects a Drop and a Quick Rise
MACD Indicator Signals an Uptrend
JD emphasizes the importance of the MACD indicator, highlighting its crucial role in the 2017 breakout. When the monthly MACD crossed above 0 during that period, it coincided with the surge. JD now predicts that a similar MACD cross could be the driving force behind the anticipated uptrend, adding an intriguing layer to the analysis.
Controversial Claims
Adding a twist to the narrative, The Crypto Sniper claims authorship of the analysis, creating some controversy. Nevertheless, the consensus in their views reinforces the idea that XRP may be gearing up for a substantial rally.
Is imitation the highest form of flattery?
#XRPUSDT
With their own watermark added, and the same question of a final flush out?
MACD is a useless lagging crutch BTW.
It only re-illustrates what the price volatility compression, near relative lows, already shows in the…
https://t.co/nRn4DGT6Dx
pic.twitter.com/aGiZGNQtme
— TheCryptoSniper (@TheCryptoSniper)
January 28, 2024
Despite the positive projections, the current reality presents a slightly different picture. XRP is currently valued at $0.5307, reflecting a modest 1.28% decline in the last 24 hours. It is worth noting that the cryptocurrency has experienced a 15% decline year-to-date, in contrast to Bitcoin’s marginal 0.68% downturn within the same period.
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Whether XRP is truly headed for a recovery remains to be seen. We will have to wait to find out.