The price of XRP has continued to significantly pull back in the last 24 hours, currently hovering around the $2.2 price level. Nevertheless, analysts remain concerned about the likelihood that XRP will eventually reach new highs, with some predicting a two-digit threshold of $10 and above. Interestingly, cryptocurrency analyst Cryptoinsightuk recently shared his thoughts on social media platform X, highlighting the potential roadmap for XRP to achieve this ambitious goal.
Mirror of the 2017 XRP price pattern
Cryptoinsightuk offers a compelling perspective on the ongoing price adjustment of XRP and its prior rebound, highlighting how its current trajectory compares to the movements experienced in 2017. At that time, XRP underwent a slight consolidation at the beginning of 2017, followed by a strong rebound that continued into 2018.
With this in mind, Cryptoinsightuk's technical analysis adjusts the price movements based on XRP's last breakout in early October. Accordingly, if XRP continues to follow the 2017 pattern, the cryptocurrency could replicate this crazy move throughout 2025.
Interestingly, the analyst's overlay of the 2017 price movement shows that XRP has already completed half of the replication of this movement, having broken out from the $0.5 range at the beginning of October with a 460% price increase. If this trend continues to develop in this way, the analyst expects XRP to break $10 in the first quarter of 2025.
However, Cryptoinsightuk's prediction exceeds the initial target of $10 in the first quarter of 2025. If the price of XRP continues to mimic historical trends after the first quarter, the analyst envisions what he calls the 'moon boy blowing off the top.' This phase is characterized by a parabolic surge in price, and by the third or fourth quarter of 2025, XRP could soar to $35.
Factors driving the bullish trajectory of XRP
CryptoinsightUK's bullish outlook for XRP depends on the cryptocurrency's ability to replicate its 2017 performance. At that time, the parabolic surge saw XRP rise from below $0.0060 to its current historical high of $3.40. Numerically, this yielded a return of approximately 56,000% over about 12 months.
While XRP is currently in a positive market sentiment and will continue a strong bullish trend, the market conditions in 2024 are different from those in 2017. Additionally, the amount of inflow capital required to reach $10 or $35 at this time will be far greater than the funds needed to reach $3.4 in 2018.
However, factors such as increased institutional participation and the political and expected regulatory positivity in 2025 suggest that the price of XRP may continue to surge similarly. Additionally, broader cryptocurrency market trends, such as Bitcoin's performance, could lead to a predicted spike in XRP prices.
At the time of writing, XRP is trading at $2.18. Achieving price targets of $10 and $35 would translate to fluctuations of 358% and 1,505%, respectively.
