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In the technical analysis shared by cryptocurrency analyst Bobby A (@Bobby_1111888) on X, the analyst predicts that XRP will likely reach the $15 mark in this uptrend, based on the alignment of historical price action patterns. The analysis delves into past market cycles for XRP, applying percentage-based extrapolations and chart pattern assessments to predict future price paths.
Is an XRP price of $15 realistic?
Bobby A analysis It compares XRP’s performance during the 2017 market cycle with its current trajectory of 2024. From the breakout high in 2017, which was marked by a dashed black horizontal line on the chart, XRP saw an initial rise of 629%.
In comparison, the value of the asset has risen by approximately 331% since breaking through the top of its range in 2024. The coin has extended again, from the December 2014 high to the May 2017 high – approaching the 4.236 Fibonacci extension – and XRP has seen a staggering 1,330% increase.
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Applying the principle of reducing percentage point increases by half, as observed from the initial spike in 2017, Bobby A assumes that the next XRP push could result in a 665% increase. This calculation puts the price of XRP at approximately $15.00 near the 4.236 Fibonacci extension level.
“XRP appears to be halving its percentage increases compared to the 2017 market cycle. “If After a potential increase of 665%,” explains Bobby A.
It is worth noting that the analyst is also observing the development of a bull flag pattern, which is a continuation pattern that usually indicates the possibility of further upward movement. This bullish flag targets the upper border of XRP’s macro parallel channel, estimated at around $10.50. “The current bullish flag formed by the asset is targeting the top of its macro parallel channel near $10.50,” Bobby A notes.
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Another analyst, Bassi (@cryptobassii), responded with a contrasting view centered around fractal analysis. Bassi assumes that the current range may be shortened by 42%, predicting that the price of XRP will approach $9, followed by a significant pullback.
He elaborates on the fractal patterns, saying: “It looks like this trend has been reduced to 42%, which will take us closer to $9, and then a big drop. But you’re missing the last part of the 2017 run. If that happens, and we keep the same ratio, we’ll get about $30.” dollars after months of accumulation.
Or even $35?
Bassi pointed out the above analysis He emphasized the similarities between the 2024 race and the 2017 cycle. Notably, both periods show five consecutive weeks of green candles, albeit of different sizes – around 500% in 2024 compared to 1,200% in 2017.
He notes that “2017: 5 weeks of green candles at ~1,200%^, followed by 3 weeks of red candles down 63%. 2024: Also, 5 weeks of green candles up ~500% (~1/2 of 2017), Followed by… (so far) 1 week of red candles at, you guessed it… 30% off.” The subsequent correction phases also mirrored each other, with XRP seeing a 30% decline in 2024 compared to a 63% decline in 2017, and the volume of each roughly halved.
Accordingly, Bassi identifies potential future movements based on historical patterns, suggesting that if XRP continues to follow these fractal patterns without major disruptions, it could accumulate over several months and possibly rise to $30 by September 2025.
In response to Pacey’s analysis, Bobby A expressed cautious optimism, saying: “Yes but I’m not sure the final push will come. The next one I’m more confident about.” Bassi complements this by highlighting the importance of adhering to fractal patterns and real-time chart developments, adding: “I think it will depend on how carefully we follow the fractals and what the chart is telling us during this next round. So far it has been closely followed. I followed the candles Weekly for the past 8 weeks beat by beat I’m not a moon guy, I know how crazy $30-35 is but if we’re still tracking the 2017 run.
At press time, XRP was trading at $2.1581.
Featured image created with DALL.E, a chart from TradingView.com
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