One cryptocurrency market analyst suggested that XRP appears to be forming “one of its most significant multi-year structural patterns yet,” which could lead the altcoin to a rally similar to its 2017 expansion.
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XRP eyes 2017-like expansion
On Thursday, market watcher ChartNerd stated that XRP appears to be replicating Prove Which may exceed the range of the pre-breakout formation of 2017, which led to a massive 68,000% expansion during that cycle.
And in a video clip of the analyst He explained The altcoin has been developing since 2020, when the price saw the bottom of a bear market and created a bullish support level that lasted for about six years.
Since then, XRP’s performance has become similar to its pre-2017 performance, with the cryptocurrency seeing significant advances after retesting its bullish support, followed by sharp corrections within descending channels.
As the chart shows, the altcoin recorded a 10-fold move between 2020 and 2021, followed by a bear market in 2022. After the bottom, XRP saw another rise twice before retesting the trend line for the first time. The price then rose another 6-7 times between late 2024 and mid-2025, leading to a July all-time high (ATH) of $3.65.
Now, cryptocurrency is development A similar corrective pattern to the previous two tests of upside support, which could indicate a potential 1,992% rally to a double-digit target upon confirmation.
“If XRP respects this pattern until late 2026, we could potentially create a third retest, which is what we saw in the early cycles before the expansion in 2017,” the analyst emphasized.
He also added that “if we repeat this type of multi-year cycle before, just on a larger scale here, this could be one of the biggest structural phases where XRP is building a base and waiting to advance.”
Consolidation until late May?
Chardneyard too subscriber A short-term outlook for XRP based on its performance over the past 11 weeks. He noted that on the daily time frame, the altcoin is still hovering between major bearish resistance levels and bullish support levels, forming a triangle pattern.
So, you can see, as we formed the base here in February, we worked down to $1.11, creating resistance, which came back around to create this bullish level of support at $1.28. We then saw this breakout to the $1.50 level, and we have now pulled back to the support line again.
With that in mind, along with the fact that Relative Strength Index (RSI) levels exist Oversold On the daily time frame, the analyst believes that XRP may build a base near upward support before attempting to retest downward resistance.
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However, he noted that “since we’re converging into this range and it’s been about 8 to 9, maybe 10 weeks of range-bound price action, we’re probably still going to see that pressure” pressing on the top of the pattern until at least mid-May, when the price is expected to see a trend. Go From formation.
In the end, the market watcher noted that “as long as we respect the trend line and continue to defend the upward support (…), it is looking for a retest towards the $1.50 level in the short term.”
Featured image from Unsplash.com, chart from TradingView.com
