XRP, 7000% rally pattern of 2017 reappears…Analysis of wave structure repetition

Source: DigitalToday Original Title: XRP, 7000% Rally Pattern of 2017 Reappears… “Startlingly Similar” Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=612961

As XRP faces recent downward pressure, analyses suggest that the pattern structure that led to over a 7000% rally in 2017 is repeating, drawing market attention.

Market analyst Chart Nerd pointed out that XRP’s recent decline could be just part of an upward trend, and that the price structure which led to a surge of over 7000% in 2017 might be repeating.

Since October last year, the global cryptocurrency market cap has decreased by $720 billion, and XRP has fallen about 28.5% during this period, continuing its bearish trend. Chart Nerd noted that this correction could be part of a long-term upward movement.

According to his analysis, XRP experienced a similar decline in 2017 before rising approximately 7425%. At that time, it rose to $0.00864 in February 2016, completing wave 1 of a multi-wave structure, then fell to $0.00587 in May to complete wave 2. It recovered to $0.00940 in October 2016, completing wave 3, then declined to $0.0053 by the end of February 2017, undergoing wave 4 correction. Subsequently, XRP surged explosively to $0.3988 in May 2017, recording a 7452% increase.

Chart Nerd believes that XRP is currently following the same multi-wave structure. It completed wave 1 at $3.4 in January 2025, then declined to $1.61 in April to form wave 2. It recovered to $3.66 in July, completing wave 3, and is now in wave 4 correction amid price stagnation.

He commented, “This structure is eerily similar,” but noted that the main difference from the 2016–2017 pattern is that this structure started in a bull market. He said, “If a 7452% increase like in 2017 is replicated, XRP could reach $153, and even if it only reaches one-eighth of the 2017 rally, the target price would be $19.”

However, considering the current market size, the likelihood of this happening is low, but Chart Nerd added, “We are waiting patiently for the next phase.”