Same XRP Setup That Led To Over 1,000% Increase In 2017 Is Playing Out Again

Overview

XRP has experienced a significant increase in its price within the last 48 hours, moving from below $2 at the start of the year to trading near the $2.40 region. This recent price movement has drawn parallels to XRP’s behavior leading up to its remarkable breakout in 2017, suggesting a potential bullish trend.

Recent Price Action

XRP’s current price trajectory is noteworthy as it resembles the price action observed in 2017. Technical analysis on the weekly candlestick timeframe indicates that XRP is following a similar pattern to its past movements on the 3-day chart. In 2017, XRP’s price unfolded through a structured five-wave sequence. This sequence included alternating phases of decline and recovery, where waves one, three, and five experienced downward pressure, while waves two and four provided temporary rebounds that did not result in a lasting trend reversal.

The final phase of that sequence was crucial. During the fifth wave, XRP’s price decline slowed and formed a falling wedge pattern. The price dipped below the $0.005 mark and eventually stabilized around $0.00485. At this point, the downside pressure diminished, volatility lessened, and selling momentum faded. Following this period of compression, XRP broke out, quickly reclaiming the $0.008 level and surpassing $0.02. This breakout initiated a rally that ultimately led to extraordinary gains exceeding 1,000%.

Current Market Structure

Currently, XRP’s price action is mirroring this historical pattern. After reaching approximately $3.40 in mid-2025, XRP entered a corrective phase that led to the creation of a falling wedge structure, with support found at $1.74. This support level marked a point where selling pressure eased, and XRP stopped making aggressive new lows. With XRP now breaking out of the falling wedge and trading above $2, attention turns to how the price will behave moving forward.

The most optimistic outcome would be for XRP to replicate the significant rally of 2017. In terms of resistance levels, the $2.30 area serves as an initial test, followed by $2.50 and $2.80, which were previous consolidation levels where XRP slowed during its ascent to all-time highs in 2025. Major resistance levels include the $3.10 mark and the previous high of $3.40 established in 2018. Conversely, sustained weakness below $1.90, particularly a retreat toward $1.74, would challenge the notion that the corrective phase has fully concluded.

From author

The current price movements of XRP are intriguing, especially in light of the historical patterns that have previously led to significant rallies. The resemblance to the 2017 structure is particularly compelling, and market participants will be closely monitoring resistance levels as XRP attempts to maintain its upward momentum. The implications of such patterns could be far-reaching, influencing both investor sentiment and market dynamics.

Impact on the crypto market

• XRP’s recent price increase may attract renewed interest from investors, potentially leading to increased trading volume.
• The historical parallels drawn from 2017 could evoke optimism among traders, possibly resulting in speculative buying.
• Resistance levels identified in the current price action may serve as critical points for market participants to watch, influencing trading strategies.
• A successful breakout above key resistance levels could instigate a broader bullish trend across the cryptocurrency market.
• Conversely, failure to maintain upward momentum could lead to increased volatility and a reassessment of market sentiment regarding XRP.