Two noteworthy crypto analysts have spotted similarities that point to XRP repeating the price explosion that captivated markets five years ago. The potential return awaits a symmetrical triangle breakout that could launch imminently.
A recent report directs attention to historical price patterns and momentum indicators growing increasingly bullish for the embattled token following a lengthy consolidation period plagued by sharp underperformance.
One market observer highlighted that XRP carved an almost identical multi-year triangle after its 2013 peak and ensuing bear trend. That structure held XRP rangebound before a violent 2017 upside resolution added four zeros to its price.
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Now a new symmetrical triangle caps upside as Ripple XRP lags the current bull market. However, a key difference in this cycle involves time spent carving the technically bullish formation.
Is XRP set for another rally?
Another analyst suggests today’s version requires an ultimate capitulation wick to set the stage for fireworks. Intriguingly, a massive downside wick did precede the 2017 euphoria as frustrated holders gave up on lagging returns. The researchers expect that the despair phase will repeat, offering a final discounted entry opportunity before launch.
Adding confidence, momentum signals like the monthly MACD produced a textbook crossover in late 2016 aligned with the previous XRP breakout. That exact dynamic is converging again today, further solidifying the historical roadmap and providing insight.
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XRP has vastly underperformed top tokens like Bitcoin since September amid legal skirmishes and questions over its role in future global finance infrastructure. Its current triangle apex could portent similar dynamics to those in 2017, where lagging returns ultimately reversed with fury. For XRP investors, the analysis provides a flicker of much-needed hope