XRP now mirrors the 2017 fractal patterns which analysts believe signals a potential pathway to a surge in price.
XRP has recently captured the attention of the cryptocurrency community, sparking discussions among analysts regarding its price trajectory amid ongoing developments in the market.
One notable voice in this dialogue is The Great Mattsby (@matthughes13) on X, who has shared his insights into the token’s potential future movements, drawing on patterns from historical market behavior.
Current Market Action and Historical Context
In a recent update, Mattsby pointed to XRP’s current price action, referencing its historical fractal patterns from the bull run of 2017.
As of now, XRP is trading at $2.42, which marks a notable 15.28% increase in a single day.
This upward movement has prompted Mattsby to analyze whether XRP is echoing its past performance.
He stated, “So far, XRP is following the 2017 fractal nicely. If it continues to play out, the next target will be the angle above around $16… and then $100?”
This observation suggests that XRP could be on the verge of significant price movements if historical patterns hold true.
Understanding the 2017 Fractal and Market Symmetry
Mattsby’s analysis hinges on the concept of market fractals, which are recurring patterns that can provide insight into future price targets based on past performance.
During the 2017 bull market, XRP experienced explosive growth, skyrocketing from less than $0.01 to an all-time high of $3.84.
The current fractal observed by Mattsby indicates a symmetry in XRP’s pricing, hinting at possible upward momentum.
His analysis points to a resistance level around $16—an estimate that has been echoed by other analysts.
If XRP continues to follow this fractal pattern, the question arises: could it surpass the $100 mark in a prolonged bullish cycle?
It’s important to note that the concept of fractals in technical analysis is not exclusive to XRP.
These patterns often emerge when market behavior exhibits similarities under comparable conditions.
However, while historical patterns can provide useful insights, they should be viewed with caution, as they do not ensure future performance due to the ever-changing fundamentals of the market.
What Lies Ahead for XRP?
If the fractal holds steady, XRP could be poised to test the $16 price point shortly.
This level is significant as it aligns with a key upward trend in the chart.
Beyond that, the ambitious target of $100 would necessitate a sustained continuation of this pattern, likely driven by broader market factors, such as increased adoption and favorable market sentiment.
Currently, the positive price movement for XRP correlates with an optimistic outlook following Ripple’s impressive performance in late 2024.
As well as the recent political developments in the U.S., including Donald Trump’s victory in the presidential election.
While the $100 target may seem ambitious given that XRP is still trading below $2.50, many investors within the community are expressing confidence in this possibility.
A significant number of holders have indicated their intention to exit their positions once XRP reaches this $100 mark.
This reflects a strong belief in the potential for the digital asset to achieve this milestone in the ongoing market cycle.
The renewed interest in XRP and the accompanying analysis by figures like The Great Mattsby underscore the dynamic nature of the cryptocurrency market.
As XRP continues to navigate its path, the interplay of historical patterns, market sentiment, and broader economic factors will play a crucial role in determining its future price movements.
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Also Read: XRP’S Drop Now Sparks Optimism
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