XRP is now mirroring a 2017 fractal pattern that analysts believe signals a potential path to price upside.
XRP has recently attracted the attention of the cryptocurrency community, sparking discussions among analysts about the coin's price trajectory amid a volatile market.
One notable voice in this conversation is The Great Mattsby (@matthughes13) on X, who shared his insights on the token's potential future movements, based on patterns from historical market behavior.
Current market action and historical context
In a recent update, Mattsby pointed out XRP’s current price action, referencing its historical fractal patterns from the 2017 bull run.
As of press time, XRP is trading at $2.42, marking a significant increase of 15.28% in just one day.
This bullish move prompted Mattsby to analyze whether XRP is repeating past performance.
“So far, XRP is following the 2017 fractal nicely. If it continues, the next target would be the upper corner around $16… and then $100?” he stated.
This observation suggests that XRP could be about to see significant price movement if historical patterns hold true.
Understanding Fractals 2017 and Market Symmetry
Mattsby's analysis revolves around the concept of market fractals, which are repeating patterns that can provide insight into future price targets based on past performance.
During the 2017 bull market, XRP experienced explosive growth, skyrocketing from under $0.01 to an all-time high of $3.84.
The current fraction observed by Mattsby shows symmetry in XRP's price, hinting at a potential price increase.
His analysis points to resistance at around $16 — an estimate shared by many other analysts.
If XRP continues to follow this fractal pattern, the question is: can it break above $100 in a sustained bull run?
It is important to note that the concept of fractals in technical analysis is not limited to XRP.
These patterns often appear when market behavior is similar under similar conditions.
However, while historical patterns can provide useful insights, they should still be viewed with caution as they do not guarantee future performance due to ever-changing market fundamentals.
What is the future of XRP?
If the fractal holds, XRP could soon test the $16 price level. This level is important as it aligns with the main uptrend on the chart.
Additionally, the ambitious target of $100 would require a sustained continuation of this pattern, which could be driven by broader market factors such as increased adoption and favorable market sentiment.
Currently, XRP’s positive price action correlates with the optimistic outlook following Ripple’s impressive performance by the end of 2024.
As well as recent political developments in the United States, including Donald Trump's victory in the presidential election.
While the $100 target seems ambitious as XRP price is still trading below $2.50, many investors in the community are expressing confidence in the possibility.
A large number of holders have expressed their intention to exit their positions when XRP hits the $100 mark.
This reflects strong belief in the potential of digital assets to reach this milestone in the ongoing market cycle.
The renewed interest in XRP and accompanying analysis from figures like The Great Mattsby underscore the dynamic nature of the cryptocurrency market.
As XRP continues to chart its course, the interplay between historical patterns, market sentiment, and broader economic factors will play a key role in determining future price movements.
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