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Ripple Price Analysis: Is XRP Price Ahead of a ‘2017 like’ Bull Run?

Highlights

    XRP chart forecasts a similar pattern resembling the initial stages of the 2017-18 XRP bull run

    With the continued dynamics, the XRP price may hit the highest levels as predicted by many analysts

Will XRP 2017 Bull Run Repeat?

During the mid of December 2020, an XRP bull run was initiated that rallied the price from $0.2 to nearly $3. Interestingly, a similar pattern has emerged in the XRP price chart which points out towards the probable bull run.

XRP price chart

The chart is forming a similar pattern as in the 2017/18 bull run. The RSI levels also coincide with each other and the time frame is also equal. The only difference is the altcoin price during 2017 was $0.8 and currently, it is $0.6.

As Bitcoin formed a similar pattern as its previous bull run, XRP also in expected to rally high as it did in 2017. With the Spark airdrop scheduled in a couple of days, the XRP price is expected to cross $1 soon.

Also Read: XRP Price Poised for a Breakout Ahead of Spark Token Airdrop

XRP Price to Touch $100 Before the End of 2021

The bullish momentum of XRP is outspread within the crypto space. The hopes and the market sentiments both point towards a big uptrend awaiting for the digital asset. According to an analyst, Crypto Bull, XRP price may hit $100 by the second half of 2021.

The analysts also have mentioned the monthly targets based on the 2017 fractals. As per his predictions, by the end of 2020, the altcoin will hit $2.5 to $3. Further, it will keep on rallying until it reaches $100 by September 2021.

However, his predictions received mixed responses. Some replied positively whereas many replied conversely saying that it will not even hit $1. While one of the users said that, crypto regulations are on the way and 2021 will be the year to witness many and hence 90 percent of the crypto will plunge.

On the whole, the XRP community strongly believes in the upcoming bull rally which could escort the price to new levels. If the 2017-18 bull run replicates, XRP price to form new highs would be imminent.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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