The XRP Price Shift That Triggered 2017's 20x Rally Is Back — Is $50 Now in Sight?
Starting May, XRP has fluctuated between $2.195 and $2.25 in the previous three days. XRP has spent the previous two months correcting from its January peak price of $3.3, but its 2-month candlestick has a solid green body, indicating that bulls are still in power in the upper timeframes despite lower timeframe volatility.
The identical trigger that caused XRP's 20x price bubble in 2017 has reappeared, along with a precise indication.
Two-Month Technical Pattern Shows Breakout Structure
Technical analysis of XRP's 2-month candlestick chart suggests a bullish setup over a longer period. Crypto expert JD published this analysis on social media site X, showing XRP breaking out of a long-term triangle formation that has held its price since 2018.
This triangle has a flat resistance trendline at the top and a rising trendline at the bottom. In late 2024, XRP broke over the upper resistance trendline, like it did in early 2017.
XRP confidently broke over this trendline to achieve a multi-year high of $3.3. XRP is presently around $2 after a series of adjustments.
The bullish situation is strengthened by a Stochastic RSI cross above 80. JD said this crossing last occurred in 2017, before XRP gained 20x in three months.
His graphic shows a yellow highlight at the SRSI line junction at that remarkable breakthrough. The 2-month chart confirms the cross.
When the Stochastic RSI indicator's %K line crosses the %D line, the SRSI crosses. The bullish cross signal of XRP is evaluated above 80 on the 2-month chart. Last time, in 2017, XRP rallied from $0.15 to its all-time high of $3.40 over four months.
