A crypto analyst has identified key indicators suggesting a massive rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is set to rebound from its bearish trends and reach new all-time highs.
XRP to Mirror 2017 Rally to New Highs
In a post on X (formerly Twitter) in June, crypto analyst Tylie Eric shared his bullish outlook for XRP, highlighting the cryptocurrency’s potential for a significant rally this year. Eric posted a price chart of XRP, showing its movements from as early as 2014 through 2025.
Eric disclosed that XRP has met all the necessary conditions for a potential bull rally to new heights. He explained that XRP is primed to continue with “wave 3 and wave 5” of the well-known Elliott Wave Theory, a tool used to analyze price movements based on long-term recurring patterns.
Eric’s analysis revealed that XRP is currently displaying similar patterns to those seen during its 2017 bull rally, which led to its surge to a record high of $3.84 in 2018. Based on these patterns, Eric projected that XRP could see a substantial increase to $36.36 by the end of 2024, which would require a staggering 7,637.22% surge from its current price.
Despite his optimism, Eric acknowledged that XRP’s recent price action has been “boring,” likely due to its downward trend. As of now, XRP is trading at $0.45, reflecting a 4.12% decrease in the past 24 hours and an 11.71% drop over the past month. The cryptocurrency has faced significant declines since early June, initially consolidating slightly above $0.50 before being dragged down by market volatility and Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
Bullish Sentiment Rises
Despite XRP’s declining value, bullish sentiment among crypto analysts remains strong. Another analyst, Egrag Crypto, predicted that XRP is nearing the Fibonacci (Fib) 1.618 level, a potential indicator of price reversal or continuation. Egrag Crypto also shared a chart of XRP’s price actions from 2014 to 2024, suggesting that if historical patterns hold, XRP could see a surge to $27. He urged investors to stay optimistic and prepared for this potential rise.
As XRP continues to navigate market challenges and legal hurdles, these bullish predictions from analysts offer a hopeful outlook for investors looking for a significant rebound in the cryptocurrency’s value.
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