Is XRP Following the Bitcoin Fractal of 2017?
Analysts in the crypto community are speculating about the potential for XRP to experience a significant breakout, drawing parallels between its current price movement and the 2017 Bitcoin (BTC) fractal. Cryptoinsightuk tweeted that XRP could blast off in 19 days, comparing its chart to the 2017 BTC price movement. The similarities between the two have caught the attention of many. The consolidation phase of the 2017 BTC fractal is being compared to XRP’s current position.
XRP’s Setback and Potential Breakout
It’s important to note that while BTC was experiencing a bull run in 2017, XRP faced setbacks due to the SEC lawsuit against Ripple. However, after consolidating and winning three consecutive victories over the SEC in recent months, some are wondering if XRP is now poised for a breakout. The question on everyone’s mind is whether XRP will follow the trajectory of the 2017 BTC fractal.
Potential Catalysts for XRP Price Surge
XRPEuropean mentioned several potential catalysts that could propel XRP’s price to new heights, including settlement talks, Ripple Swell, ISO20022, and Bitcoin spot ETF approval. While some analysts urge caution and highlight the impact of lawsuits on cryptocurrencies like Tether, others like Egrag offer a bullish perspective. Egrag believes that once XRP overcomes its legal challenges, it could unleash significant pent-up potential and experience a 40x move.
Hot Take: Will XRP Release Its Stored Energy?
Renowned analyst Egrag suggests that a significant upswing in XRP’s price is inevitable once it overcomes its legal challenges. He predicts a 40x move, representing a staggering 4000% gain. This aligns with the Fib 1.618 from the 2017 peak to the 2020 bottom. As of now, XRP is trading at $0.5509.
By
By
By
By
By