Is XRP Poised for a 2017-Like Bull Rally?

January 18, 2023

January 14, 2023

January 14, 2023

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By Pooja

Analyst Egrag Crypto notes a resemblance in XRP's current price movement to the pattern observed before its 2017 bull rally.

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Similar Price Movement

Egrag shared a chart on social media, illustrating the similarity between the current curve and the 2017 formation.

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Chart Analysis

XRP witnessed its first major bull rally in 2017, reaching over $3 from $0.2 levels.

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2017 Bull Rally

Egrag speculates on the possibility of a new parabolic pump, questioning whether a significant rally is imminent.

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Speculation on Future Run

Despite the bearish trend, Egrag encourages XRP community members to remain confident, suggesting buying and holding assets in anticipation of a price rise.

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Community Confidence

Optimism in the XRP community grows following the launch of Bitcoin ETFs, with expectations of a similar positive development for XRP.

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Bitcoin ETF Connection

CoinMarketCap data reveals XRP is in a bearish zone due to a broader market downturn led by Bitcoin, trading at $0.5703 per token at the time of analysis.

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Current Market Status