A crypto market analyst has suggested that XRP appears to be forming “one of the most important multi-year structural patterns yet,” which could lead the altcoin to a rally similar to its 2017 expansion.
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XRP Eyes 2017-like expansion
On Thursday, market observer ChartNerd stated that
In a video the analyst explained that the altcoin has developed since 2020, when the price hit its bear market low and created a rising support level that held for almost six years.
Since then, XRP has resembled its pre-2017 performance, with the cryptocurrency making significant progress after retesting rising support, followed by sharp corrections within declining channels.
As the chart shows, the altcoin recorded a 10x move between 2020 and 2021, which was followed by the 2022 bear market. After bottoming, XRP saw another 2x rally before retesting the trendline for the first time. The price then rose another 6-7x between late 2024 and mid-2025, leading to an all-time high in July (ATH) of $3.65.
Now, the cryptocurrency is developing a similar correction pattern to the previous two retests of the ascending support, which could indicate a potential 1,992% rally to a double-digit target upon confirmation.
“If XRP honors this pattern through late 2026, we could potentially create the third retest here, which is what we saw in the early cycles before the 2017 expansion,” the analyst said.
He also added that “if we repeat this kind of multi-year cycle from before, just on a larger scale here, this could be one of the biggest structural phases where XRP builds a base and waits for the advance.”
Consolidation until the end of May?
ChardNerd too shared a short-term outlook for XRP based on the past 11 weeks’ performance. He noted that on the daily time frame, the altcoin is still hovering between major descending resistance and ascending support levels, forming a triangle pattern.
So you can see that since we basically formed the base here in February, we worked down to $1.11, created the resistance, which came back and created this rising support level, right around $1.28. We have subsequently seen this break down to around $1.50, and we have now returned to the support line.
Taking this into account, in addition to the fact that the RSI levels are oversold on the daily time frame, the analyst believes that XRP could build a base near the rising support before attempting to retest the falling resistance.
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Nevertheless, he noted that “because we are converging into this range and there have been about 8 to 9, maybe 10 weeks of price action within a range, it would be likely that we will still see this compression pushing into the top of the pattern until at least mid-May when price is expected to see a targeted breakout out of the formation.”
Ultimately, the market observer suggested that “as long as we respect the trendline and continue to defend rising support (…), a retest to some sort of $1.50 will occur in the near term.”
Featured image from Unsplash.com, chart from TradingView.com