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The XRP price has continued its steep correction in the last 24 hours, and is currently hovering around the $2.2 price level. Nevertheless, analysts are still concerned about the possibility that the XRP price will reach new highs sooner or later, with some offering projections for the future. two-digit threshold at $10 and above. Interestingly, crypto analyst Cryptoinsightuk recently shared his thoughts on social media platform X, drawing attention to a possible roadmap for XRP to achieve this ambitious goal.
Reflection of the 2017 XRP price pattern
Cryptoinsightuk has brought a convincing perspective to the ongoing XRP price correction and the previous rally, which puts emphasis what the current trajectory is resembles the movement it went through in 2017. At the time, XRP consolidated a bit in early 2017 before undergoing a powerful rally that extended into 2018.
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With this in mind, Cryptoinsightuk technical analysis adjusted the price action at that time to reflect its size relative to XRP’s previous breakout in early October. If XRP continues to follow the 2017 pattern, the cryptocurrency could repeat this crazy move in 2025.
Interestingly, the analyst’s analysis of the 2017 price action suggested that XRP’s 460% price breakout from the early October range of $0.5 is already halfway through this move. If things continue this way, the analyst expects XRP to rise above $10 in the first quarter of 2025.
However, Cryptoinsightuk’s projections extend beyond this initial target of $10 in the first quarter of 2025. If the price of top’. This phase, characterized by a larger parabolic price increase, could push XRP as high as $35 in the third or fourth quarter of 2025.
Factors that could drive XRP’s bullish trajectory
CryptoinsightUK’s bullish view on XRP hinges on the cryptocurrency’s ability to replicate 2017’s move. At the time, the parabolic wave caused XRP to fall from below $0.0060 until it reached its current all-time high of $3.40. Looking at the numbers, this equates to a gain of approximately 56,000% over a period of approximately twelve months.
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Although XRP is currently in a positive market sentiment to continue a strong bullish move, the market conditions in 2024 will be different than those in 2017. Furthermore, the amount of inflow capital required to reach $10 or $35 at this point would be much greater than what it would yield. in 2018 it came to $3.4.
However, greater institutional involvement and factors such as political and expected positive regulation in 2025 suggest that the XRP price could nevertheless experience a similar increase. Additionally, broader trends in the crypto market, such as Bitcoin’s performance, could contribute to XRP’s predicted price increase.
At the time of writing, XRP is trading at $2.18. Reaching the $10 and $35 price targets would translate into an upside of 358% and 1,505%, respectively.
Featured image created with Dall.E, chart from Tradingview.com