The XRP price has seen a notable increase of 2.5% in the last 24 hours, climbing to $2.34 amidst a general downturn in the crypto market. Over the past week, XRP has gained 6.5%, with a 7% increase over the past fortnight, showcasing an impressive 435% surge over the past year. This performance has caught the attention of traders and analysts alike, many of whom anticipate even greater heights for XRP in the near future. Notably, one analyst, Charting Guy, has highlighted that XRP’s current chart patterns closely resemble those from 2017/18, a period when XRP reached an all-time high of $3.40. Given Ripple’s solid growth and the altcoin’s strong fundamentals, there’s speculation that XRP could set a new all-time high by winter.
### Analyst Identifies Similarities to 2017, Predicts New Peaks for XRP
Recently, Charting Guy shared a chart comparison that aligns XRP’s current performance with its 2017/18 price movements. This comparison has drawn significant attention due to the precise overlap of high points in December and January of both timeframes. However, it’s important to note that these parallels focus on XRP’s performance against Bitcoin, not against USD, where the situation in 2018 showed a different trajectory.
Despite a sharp decline in August 2018, the increased adoption of cryptocurrency since then suggests a more favorable outcome for XRP’s price in the current climate. Analysts are hopeful that, as the year progresses, especially if regulatory issues in the U.S. are resolved, XRP’s value could see a robust recovery.
XRP’s chart is showing signs of breaking out from a pennant formation created over the past few months. Indicators such as the RSI and MACD turning positive for the first time since late May point to potential upward movement. Predictions suggest that XRP could reach $2.50 in the coming weeks and possibly climb to $3 by the fourth quarter. Should XRP ETF approvals come through, the price might even surpass $3.50.
As the crypto landscape continues to evolve, many traders are diversifying their portfolios with new, promising coins, with presales offering a glimpse into what could be next big hits. Bitcoin Hyper is emerging as a standout in this category, having raised over $2.1 million in its ICO. This ERC-20 crypto aims to develop a layer-two network for Bitcoin, promising lower fees and higher throughput.
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“XRP’s chart mirrors 2017/18’s bull run patterns — could we see a new ATH by winter? Charting Guy thinks so. 🚀📈 #XRP #Ripple #CryptoPredictions”
