A recent analysis by the cryptocurrency analyst Charting Guy on X has drawn attention to XRP’s current market dynamics.
The analyst suggests that if XRP’s price movement continues to mirror its 2017 trajectory, the cryptocurrency might be on the cusp of a significant breakout. However, it may follow a brief period of consolidation.
fyi, if $XRP does still continue to follow 2017, we likely continue to consolidate for another 2 weeks until Christmas time
then, we make our face melting move up for about a month until late January pic.twitter.com/E9MH8ljNXG
— Charting Guy (@ChartingGuy) December 13, 2024
Analysis Overview
Charting Guy highlighted that XRP might consolidate until Christmas. Following this, a dramatic upward movement, similar to the one observed in late 2017, could occur, lasting about a month until late January. This projection aligns with historical trends where XRP experienced sharp rallies after periods of accumulation and low volatility.
This perspective is supported by the historical price chart included in the discussion. The chart showcases key moments in XRP’s price history, including its massive rally in late 2017 and its similar, although shorter-lived, rally in early 2021. The ongoing consolidation period in late 2024 and early 2025 appears to fit the cyclical behavior seen in previous market cycles.
Community Commentary
Adding to the analysis, an X user, Bassi, provided further insight into how the timing of these potential movements could align with broader narratives. Bassi speculated that a rally around December 30 could be attributed to Christmas hype or Ripple’s stable coin (RLUSD) related developments.
Furthermore, they projected January 20 as a potential peak, coinciding with the U.S. Presidential Inauguration Day. This date could mark a turning point for XRP, with the community likely labeling any subsequent downturn as a “sell the news” event.
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Factors Influencing the Outlook
The discussion underscores several factors that could influence XRP’s price trajectory:
Historical Patterns: XRP’s past rallies have often followed long periods of consolidation, suggesting that the current phase might precede significant price action.
Market Sentiment: Speculative narratives, such as the holiday season or major institutional developments, often play a role in driving short-term price movements in the cryptocurrency market.
Macro Events: Broader market conditions, including regulatory developments, macroeconomic trends, and Bitcoin’s price performance, are likely to have an indirect impact on XRP’s trajectory.
Ripple Developments: Any updates from Ripple, such as progress in adoption or partnerships , could also act as catalysts for price movements.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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