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XRP, a prominent altcoin, has surged by 551% since the U.S. presidential elections on November 5, 2024. Analyzing its movements since 2014 reveals a strikingly recurring pattern in its price chart. What insights can these patterns provide for the future? Here is an analysis and commentary on XRP Coin as of January 17.
Recurring Patterns in the XRP Chart
When examining XRP’s charts from 2013-2017 and 2017-2025, we notice the same models re-emerging. The rise that began in August 2013 and continued until December 2013 propelled XRP to new heights. However, this surge was followed by a sharp decline. The altcoin then moved downward for nearly a year, forming a symmetric triangle pattern during this period.
$3-XRP-1.png” alt=”” width=”1664″ height=”767″ />From 2017 onwards, this model appeared again, but this time the process took twice as long. This recurrence in the charts may indicate that XRP could exhibit similar movements in the long term.
RSI Indicator and XRP’s Price Movements
The Relative Strength Index (RSI) is typically used to identify overbought and oversold territories. However, long-term RSI data for XRP shows that during periods of strong momentum, the index has risen to levels of 80 or even 90. This indicates that momentum has a significant effect on XRP during these strong phases, providing a clearer understanding when focusing solely on momentum.
Currently trading around $3.30, XRP is nearing its all-time high from seven years ago. Based on historical instances where this level acted as resistance, it is anticipated to potentially transform into support, creating a robust foundation. Weekly charts reveal that despite general downturns in the cryptocurrency market, XRP has consistently formed higher lows.
Despite the ongoing legal battle with the SEC, XRP’s steady increase is noteworthy. While some believe the altcoin has yet to realize its full rally, the charts indicate long-term growth potential. Therefore, focusing on more realistic price targets and tracking the overall growth of the altcoin might be more meaningful for market participants. A new peak could occur at any moment, given the current data and momentum.
XRP’s movements suggest a persistent upward trend driven by its internal dynamics, independent of the broader cryptocurrency market’s status.
