XRP, like many other cryptocurrencies, has been caught in a trading slump, its price confined to a narrow range. But there’s still a glimmer of hope.
Renowned crypto analyst Mikybull Crypto has issued a bombshell prediction: XRP’s chart is a ticking “technical time bomb,” poised to explode. Will XRP price burst like it did all the way back in 2017?
In a recent tweet post, Mikybull compared today’s price movements of XRP to those from 2017. He shared a long-term chart that shows XRP’s price is now stuck in a tight range. Historically, when XRP has been in this situation, it often leads to a big price increase, making many investors hopeful for a breakout soon.
Meanwhile, “It’s looking like a 2017 kind of price action formation,” Mikybull noted, recalling the explosive rise XRP experienced after a similar period of stability seven years ago.
In 2017, XRP experienced a period of stable, low volatility trading before it suddenly skyrocketed to an all-time high. However, the trend reversed in 2018, leading to different price patterns in the following years.
Currently, XRP’s chart displays a compression of the Bollinger Bands, an indicator of market volatility. Historically, when these bands tighten, it signals that an asset is gearing up for a substantial price move. This has many analysts making bold XRP price predictions, anticipating significant movement soon.
XRP is also trading within a large triangle pattern, getting close to a crucial breaking point. While analysts agree that the breakout could go either way, most expect it to move upward. Some skeptics point out possible risks, but the overall view is that the downside for XRP seems limited.
Mikybull is optimistic, calling XRP a “technical time bomb” ready to explode. Though he didn’t specify exact price targets in this analysis, he has previously suggested a target of $4. Other analysts have even higher targets, some as high as $300, based on XRP’s massive rally of over 75,000% in 2017.
What’s Next for XRP?
Currently, XRP is priced at $0.58, down 84.75% from its all-time high of $3.40. As excitement builds in the community, the big question remains: is XRP about to make a significant breakout? The coming days will be crucial as investors watch closely to see how XRP handles this pivotal moment.
Also Check Out: XRP Price Predictions for 2025: What Happens if Bitcoin Surges to $150K?
The XRP community is buzzing with excitement. Are you on board, or are you staying cautious? Let us know your take.
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