XRP Price Could Rally Beyond $20 If 2017 Fractal Repeats
XRP is currently trading around $2.20, showing a fluctuating price trend. Technical analysis indicates it may soon break this level, drawing parallels with the bullish pattern from 2017.
Analysis Highlights
- Current price action resembles a flag pattern similar to that preceding the 2017 rally.
- The analyst overlaid the 2017 fractal on XRP's current chart, suggesting a potential continuation pattern.
- XRP is consolidating above the 50-week EMA, which previously acted as support during the 2017 breakout.
- The RSI behavior mirrors that of 2017, indicating a possible upcoming price spike.
Price Projections
- If the 2017 fractal holds, XRP could see a price surge beyond $20.
- This would exceed its previous all-time high of $3.40.
- Such a move could establish a new price floor above double digits.
Currently, XRP is down by 2.3% in the last 24 hours. The outcome of this potential pattern remains uncertain, but the technical indicators suggest significant implications for future price movements.
