YouTube Analyst Makes Bold XRP Price Prediction: Can the Ripple Token Mirror 2017 Rally?

An analysis by analyst Steph is Crypto highlights XRP's price movements, comparing them to the token's historic 2017 rally.

A YouTube crypto analyst has made a bold prediction for the price of XRP, suggesting that the Ripple token could be poised for a massive rally if it follows a trajectory similar to its historic 2017 surge.

In a recent video analysis, the analyst, known as Steph from Crypto, highlights XRP’s price movements and compares them to the token's performance before the explosive rally of 2017. The analysis points to technical patterns, historical data, and XRP’s market potential.

The analysis identifies similarities in XRP’s market behavior now and its movements before the 2017 rally. According to Steph, XRP made a higher low on the weekly chart, which is a bullish indication that came before a 6,600% spike in 2017. Additionally, the present phase of sideways consolidation is similar to the correction that preceded XRP's previous price rise.

Several key technical factors are highlighted in the analysis, including a double-bottom formation on the monthly chart. The analyst points out that XRP has broken above the neckline at $1.96, which is a move that has historically been associated with continued upward momentum. Breaking through long-term downward resistance is another bullish indication, a condition that preceded the 2017 rally.

The analysis also sets ambitious targets for XRP, speculating that if history were to repeat itself, XRP could reach $157 in the coming months. While noting the speculative nature of such a surge, the analysis suggests a more conservative target around $30 based on current technical signals.

The projection is supported by the similarity between XRP’s ongoing consolidation and its 2017 pre-rally structure. While the analysis cautions against assuming an exact replication of past performance, it highlights the possibility of substantial gains even if the rally achieves a fraction of the previous growth.

XRP technical indicators show strength

Several key technical signals are bolstering the case for a potential rally in XRP. The formation of a double-bottom pattern and the breakout above downward resistance are both identified as bullish developments. These patterns suggest that XRP is building momentum for an upward trend.

The analysis also emphasizes the significance of consolidation, explaining that sideways movement often precedes significant upward price action. This pattern, combined with the breakout of resistance, closely resembles the conditions before the 2017 rally. At press time, XRP trades at $2.42, showing gains over the last day and week.

Despite the bullish outlook, the analysis addresses concerns about XRP’s market cap and valuation. The analyst argues that XRP’s utility in cross-border payments positions it uniquely for growth, largely independent of traditional market cap constraints. They suggest that XRP’s use case and adoption are set to drive the token's value over the long term.

While optimistic, the analysis advises traders to remain cautious, recommending locking in profits during upward movements and stressing that market structures are subject to change.