thecryptobasic.com
While XRP continues to hover around the $0.50 price region, market observers speculate that this current position may be the final shakeout before XRP stages a historic comeback reminiscent of events from seven years ago.
Analyst Helkin Ashi, known as “LUDXRPFLR” on X, highlighted this likely scenario in a recent examination of XRP’s historical patterns. He emphasized that XRP has a history of recurring patterns.
He shared a chart illustrating that the historical price movements of XRP over the last decade have consistently mirrored previous candlestick formations, guiding price forecasts for the asset.
XRP Historical Rhyming Patterns
For instance, after XRP registered a peak in December 2013, it experienced a prolonged bearish phase that erased all previous gains until mid-2014, when it hit bottom. Following that, XRP rallied significantly by early 2015, although the trajectory was below the peak in 2013.
A downtrend occurred again after 2015, but this time, it was more prolonged, lasting until the first quarter of 2017. Given the longer consolidation phase, XRP’s breakout during this period was more intense, rising from around $0.0055 in early 2017 to $3.84 in early 2018. This marks an approximate 70,000% increase within a year.
Again, XRP’s price regressed after these historic gains. Interestingly, the consolidation pattern that followed in 2018 mirrored the trajectories it experienced after the post-2013 peak. Accordingly, XRP broke out after hitting a bottom in 2020 and rallied significantly again into 2021.
The 2021 run, however, was below that of 2018 before a downtrend commenced, similar to how the 2015 uptrend was below its earlier peak. The ongoing consolidation post-2021 is also more extensive, akin to the post-2015 peak. Currently, XRP is at a breaking point from this pattern.
XRP Price Outlooks if History Holds
Given XRP’s consistent adherence to historical trends, analysts like Helkin Ashi believe that the breakout from this longer consolidation will be similarly intense to what was observed in 2017/2018.
Ashi theorized a scenario in which XRP follows a similar uptrend to that last cycle, projecting a rally that could drive XRP far beyond $16 at its mid-term peak. However, in a previous analysis, he noted that the full-scale uptrend for XRP this time could see the asset reaching as high as $305.
As a result, the analyst considers XRP’s current low as potentially the last shakeout before it embarks on this astronomical surge.
Notably, from XRP’s present value of $0.5327, reaching $305 would represent a growth of approximately 57,155%.