While XRP continues to trend bearishly, analyst Ether Nasyona believes those who have written off the coin may have only themselves to blame.
In his latest update, he compared XRP’s current price action to its pre-bull cycle setup in 2017. He used the pattern to suggest that a powerful price rally may again be forming.
Back then, XRP faced rejection at its 2013 all-time high (ATH) before pulling back to retest the 2014 peak, which had turned into a strong demand zone. This period of accumulation marked the beginning of XRP’s explosive surge, taking it from fractions of a cent to over $3 within months.
For context, according to Nasyona’s XRP chart, the coin initially faced rejection at $0.065 in 2017, dipped back to near the $0.023 support level, and then broke out, rising nearly 19,000% to its all-time high.
XRP at 2018 ATH Resistance, 2021 Support Zone
Nasyona noted that XRP is now displaying a similar structure on a larger scale. Specifically, after its 2024 rally, the token again faced rejection—this time at the 2018 ATH resistance at the $3.3 level.
Since then, the price has retraced toward the 2021 peak zone, which acted as a demand region where long-term holders accumulated more.
For context, since XRP reached $3.66 in July, slightly surpassing its 2018 peak, the price dipped to $1.25 on October 10. This level, just below the 2021 peak, acted as a strong demand zone for XRP, with the price rebounding to $2.40 just hours after the drop.
While the asset flashed signs of recovery yesterday, it is again dipping. The analyst explained that this consolidation phase is not a sign of weakness, but a “power accumulation phase” as it mirrors what occurred in 2017, which ultimately led to a parabolic breakout for XRP.
‘Short-Term Noise, Long-Term Strength’
Given the coin’s potential, Ether Nasyona cautioned traders not to be swayed by short-term market fluctuations. “Short-term fluctuations, panic, or euphoria… it’s all just noise,” he said, emphasizing that the overall trend remains bullish.
His message to the XRP community is to remain patient, as the historical chart holds a lot of promise. For skeptics, he warned against underestimating XRP’s long-term potential.
Notably, the analyst did not provide a specific price target for the next XRP bull run. However, his reference to historical patterns suggests a strong double-digit price range could be possible if XRP mirrors its 2017 trajectory.
While some analysts believe XRP’s legendary 2017 run is no longer relevant, most agree the coin will break the $10 mark.
“XRP Always Rewards the Patient”
In a separate analysis, technical analyst CryptoWZRD also expressed strong conviction that XRP is approaching the end of its prolonged sideways trading.
He noted that XRP was at a critical point after 75 days of consolidation within a tightening triangle pattern. CryptoWZRD advised holders to remain patient, stating, “XRP always rewards the patient.”
Other chartists, like ChartNerd, believe XRP could surge as high as $27, comparing its long consolidation phase to Amazon’s decade-long base before its explosive breakout.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
