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XRP Price Patterns Resembles 2017 Moves, Analyst Predicts a Parabolic Surge to $27

Munene Timothy by Munene Timothy
February 6, 2025
in Binance Feed, Market
Reading Time: 4 mins read
XRP Price Patterns Resembles 2017 Moves, Analyst Predicts a Parabolic Surge to $27
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  • XRP fell nearly 11% in a day and 21% in a week, coinciding with an XRP Ledger issue that halted block production for an hour.
  • Analyst Steph is Crypto noted past XRP bull runs had deep corrections, with historical pullbacks reaching up to 68.22%.
  • Egrag Crypto predicts a 1500% surge if XRP follows its 2017 cycle, potentially reaching $27 after touching key support levels.

XRP has had a sharp decline, dropping by nearly 11% in a single day and having a 21% loss over the past week. This decline has coincided with a technical disruption on the XRP Ledger, which halted block production for about an hour on February 4. 

Breaking: The $XRP blockchain goes down.@Ripple #XRP Ledger goes down. Stops producing blocks for 1 hour.

The XRP Ledger halted block production for about an hour on Tuesday before spontaneously recovering, marking a rare disruption for one of crypto's oldest networks.… pic.twitter.com/xJTpz7NGXE

— MartyParty (@martypartymusic) February 5, 2025

The cause is under investigation, with initial reports suggesting a consensus issue that prevented validations from being published. Analyst Steph is Crypto noted that XRP’s historical bull runs included similar shakeouts, emphasizing that previous cycles saw major corrections before parabolic gains.

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Deep Corrections Before Rallies

XRP has a history of steep corrections before major upward moves. Before its 2017 breakout, XRP had multiple pullbacks ranging from 24.67% to 68.22%. These downturns formed part of a broader consolidation phase before a rally. 

The 2017 #XRP bull run had 3 brutal shakeouts—yet it still did 110,000%.
Dips don’t end bull runs, they fuel them. pic.twitter.com/DVly1LS2Fr

— STEPH IS CRYPTO (@Steph_iscrypto) February 6, 2025

During early 2017, XRP surged before a 63.47% correction, followed by another 68.22% retracement at $0.35. This extended consolidation eventually led to XRP surpassing $1.50 and reaching new highs.

According to Steph is Crypto, past data suggests that steep pullbacks fuel rather than end bull runs. Market movements indicate XRP is trading within a similar accumulation range, potentially leading to a breakout. 

Support and Resistance Levels

XRP previously broke above $1 and reached a high of $3.30 in late January before dropping to $2.40. The 50 day moving average, previously acting as support at $2.81, has now turned into resistance. The 200 day moving average, at $2.40, is a long term support level.

Source: Santiment

If XRP holds above $2.40, a retest of $2.81 is possible. Breaking above this level could lead to a bullish momentum, potentially pushing XRP back above $3. However, if support at $2.40 fails, further declines toward $2 or $1.80 could follow.

Analyst Predicts a 1500% Surge 

Egrag Crypto pointed out that XRP’s current market patterns resemble its 2017 cycle, where a similar pattern led to a 1500% surge. 

#XRP – Double Digits – 1500% Pump ⛽️:

Let’s break down what’s happening with #XRP:

1⃣ Bull Market Support Band (BMSB): This is our key indicator for determining whether we’re in a #BullRun or a #BearMarket. Currently, we're positioned above the BMSB. I mentioned in a previous… pic.twitter.com/PNB4OmuCN8

— EGRAG CRYPTO (@egragcrypto) February 6, 2025

Egrag suggests XRP recently touched the same foundational level and the Bull Market Support Band (BMSB), aligning with previous breakout conditions. In 2017, this setup fueled a rapid rally, and if the trend repeats, XRP could potentially reach $27.

Tags: Price AnalysisRipple (XRP) News

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