A crypto analyst has identified key indicators pointing to a substantial rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is about to recover bearish trends and soar to new record highs
XRP mirrors 2017 rally to new highs
In an X (formerly Twitter) after in June, crypto analyst Tylie Eric expressed bullish optimism about XRP, highlighting the cryptocurrency’s potential for a major rally this year. He shared an XRP price chart that shows the cryptocurrency’s price movements from 2014 to 2025.
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Eric announced that XRP meets all necessary requirements and conditions to a potential bull rally to new highs. The analyst also revealed that XRP is fully prepared to continue through ‘wave 3 and wave 5’ of the renowned Elliott Wave Theory.
The Elliott Wave Theory is a tool used to determine price movements in a cryptocurrency. The technical analysis is based on looking at recurring long-term price patterns in a cryptocurrency.
In his post, Eric announced that XRP is currently exhibit similar patterns and circumstances compared to that during the bull rally in 2017. Earlier in 2017, XRP witnessed a massive price rally, which preceded its rise to new all-time highs of $3.84 in 2018.
Eric suggested that Price action of XRP showed the same bullish patterns, as a result, he predicted a substantial price increase to $36.36 before the end of 2024. The analyst also revealed that XRP will have to witness as much as 7,637.22% before it can reach the expected price target.
Despite being a cryptocurrency analyst, Eric is an avid supporter of the XRP cryptocurrency. The analyst has consistently made bullish predictions for the altcoin in anticipation possible revival of bearish sentiment. Moreover, the crypto analyst revealed in his earlier after that XRP’s price action was significantly ‘boring’. This can be attributed to the cryptocurrency’s recent downward spiral.
At the time of writing, the price of XRP is trading at $0.45, reflecting a decline of 4.12% in the past 24 hours and a decline of 11.71% in the past month. The popular cryptocurrency has been making constant withdrawals steep drops since early June.
That used to be cryptocurrency consolidating slightly above $0.5but now the cryptocurrency is in a major downtrend caused by market volatility and the ongoing Ripple trend legal battle with the US Securities and Exchange Commission (SEC).
Bullish sentiment is rising
Despite its declining value, XRP’s bullish sentiment among crypto analysts continues to rise. A certain crypto analyst identified as ‘Egrag Crypto’ predicted the altcoin to move closer to the Fibonacci (Fib) 1,618. The analyst revealed that this unexpected development could point to possible areas for a price reversal or continuation in XRP.
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Egrag Crypto also shared a price chart showing XRP’s price action from 2014 to 2024. In his message he shared emphasized that if history repeats itself, XRP could potentially see a price increase to $27. The analyst urged investors to remain prepared and optimistic about XRP’s expected rise to $27.
Featured image created with Dall.E, chart from Tradingview.com