After a volatile weekend that saw XRP plunge to $2.40, the token is once again climbing – and one prominent market watcher says this could be the defining moment for Ripple’s native cryptocurrency.
The pseudonymous analyst TradingShot, known for his macro-level chart comparisons, believes XRP is approaching a critical technical threshold that could either ignite a massive rally or end its bullish structure entirely.
Echoes of 2017
According to TradingShot’s latest post on TradingView, XRP’s current price action is eerily similar to its behavior in late 2017 – right before the token rocketed from $0.50 to $3.65, setting its all-time high. The analyst suggests the same formation could now be reappearing on the weekly chart.
In his projection, if the pattern continues to follow the 2017 trajectory, XRP could surge from around $2.60 to $8.50, reaching what he calls a “now-or-never” zone near the 1.5 Fibonacci extension.
He also pointed to the 1W MA50 (weekly moving average), which historically acted as a launch pad during previous cycles. “If the trendline holds,” he explained, “this could trigger the same kind of explosive breakout we saw in December 2017.”
Trading Volume Surges as Bulls Return
XRP’s rebound on Monday added fuel to that outlook. The token rallied 8% in 24 hours, climbing closer to the $3 psychological barrier, with trading volume surpassing $10.2 billion – a sign, analysts say, that traders are positioning for a potential upside continuation.
The recovery follows a broader market sell-off that began after U.S. President Donald Trump announced sweeping 100% tariffs on Chinese imports, a move that sent both equities and cryptocurrencies tumbling. XRP has since staged one of the strongest recoveries among major altcoins.
A Decisive Week Ahead
Despite optimism from bulls, the coming days could determine whether XRP’s recent rally is a short-term bounce or the start of a larger trend. If the token fails to hold above key moving averages, analysts warn, it may struggle to sustain momentum.
For now, TradingShot remains cautiously bullish. “This is the point where XRP must decide whether it repeats history or diverges from it,” he wrote. “If the fractal stays intact, the $8.5 target remains firmly on the table.”
With SEC decisions on multiple XRP ETFs expected later this month, traders are watching closely – hoping that history, this time, really does repeat itself.
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Source: https://coindoo.com/xrp-price-prediction-major-chart-pattern-hints-at-explosive-move-ahead/