Will XRP Price Surge Like Bitcoin Did in 2017?

Based on new XRP news, a crypto analysis has suggested that XRP is repeating Bitcoin's macro movements.

A crypto analyst has suggested that XRP is repeating Bitcoin’s macro movements, which could lead to huge gains for the token in the future. This analyst’s XRP price prediction is based on a multi-year comparison between XRP and Bitcoin price action. Their analysis also gives us a projection for an XRP price surge to $71. This might seem very bullish at the moment as XRP is trading near $2.15. However, this was also the case for Bitcoin, as at first, nobody believed that it could even trade for a dollar.

A crypto analyst named RizeSenpai, who provides crypto analysis on TradingView, has provided this bold XRP price prediction and analysis. This projection for a surge from the current $2.15 to $71 equals 3,281% of the price appreciation. However, the analysis that this crypto expert has provided is a detailed and interesting comparison. Their argument is based on the Bitcoin price action between 2015 and 2017, which was a multi-year accumulation phase. This accumulation period eventually led to a price breakout in the case of BTC. According to analysis, the price action of XRP from 2014 till now is very similar to Bitcoin in that period.

This analyst claims that the only difference is that the time frame for XRP is slower than that of Bitcoin. As per analysis, the apex coin was accumulating for three years before it saw a 5,424% price surge in 2017. Meanwhile, the time frame for the same in the case of XRP is six years. After the breakout, the apex coin clocked a second rally that took it to 1.902 times the Fibonacci level.

The analyst highlighted the 1.618 Fib level as the next rally target. This level, which is between $27 and $30, can be seen in the chart above. Additionally, we also see a second price rally for Bitcoin, which ends at 1.902 HOP, equal to $104,000. As such, the XRP token could also surge to the 1.902 HOP level, which is $71.

However, XRP is still in the breakout range that Bitcoin experienced in its last market cycle. As such, if the token could recreate the 5,400% surge, it could even reach $120.94. Of course, this depends on an exact replication of the price action, which is highly improbable.

Although we might not see a surge to $71 or $120, the overall trajectory of XRP is bullish like Bitcoin. Additionally, some technical indicators also support a bullish outlook for XRP. The Moving Average Convergence Divergence or MACD is showing a Hidden Bullish Divergence. This has historically signaled an uptrend or a continuation of an uptrend.