Multiple analysts have observed that XRP is closely mirroring its 2017 patterns, suggesting a promising future for the asset.

One such analyst, Charting Guy, a widely followed technical expert, has highlighted key pivot dates in XRP’s 2017 fractal.

According to him, if XRP continues to follow the same trajectory it has since last month, it could reach a new all-time high on its next leg up. He speculated that this could happen as early as January, less than two weeks away.

XRP Now vs. 2017

Notably, XRP’s historic bull run in 2017 gained momentum between November and December, with the asset establishing its all-time high by the first week of January. During this period, XRP surged from $0.1838 to $3.84, representing a massive increase of 1,989% over ten weeks. 

In comparison, from November to December this year, XRP has already risen by 491%, from $0.49 to $2.90. Currently, XRP is in a consolidation phase, with market analysts anticipating a major breakout toward a new all-time high.

Bold Projections for XRP Based on 2017 Patterns

Crypto Vilian, a market analyst from Cambridge, has also identified promising signs for XRP based on 2017’s market structure. He pointed out the sequence of a bearish decline, recovery, consolidation, and a subsequent breakout that mirrors the current situation with XRP.

His chart suggests that, when the bulls return, XRP could attain a $1.05 trillion market cap. This lofty market cap corresponds to a floor price of around $17 for XRP.

However, Vilian noted that this optimistic outlook depends heavily on Bitcoin’s performance. He further identified potential price levels between $8 and $13 for XRP, with the possibility of a three-fold price surge if the asset breaks through this range.

Forecast for XRP 4,250% Surge to $100+

Meanwhile, analyst Crypto Bilbuwoo has proposed an even more ambitious target. While other analysts take a more conservative approach, Bilbuwoo’s chart predicts a scenario where XRP follows the 2017 trend, with initial peaks around $26, followed by a correction.

After that, the asset could soar above $100, according to his chart.

At press time, XRP is trading at $2.13. Attaining above $100 demands a growth of over 4,250%.

The Charting Guy suggests that XRP’s current price movement closely resembles its behavior during the 2017 bull market. Based on this fractal pattern and key pivot dates from 2017, he predicts that if XRP continues to follow this trend, it could reach a new all-time high during its next upward movement, expected later in January 2025.

The below-mentioned chart below shows the similarities between the 2017 and 2024 XRP price movements.

However, This more extreme projection has faced criticism. Some critics argue that XRP should first break its seven-year all-time high before considering such lofty price targets. 

“People posting charts like this showing $100+ have no idea how markets work. That would take years if it ever happens,” said X user Daniel G. 

A notable market analyst provides two crucial XRP levels to watch, insisting that anything in between is all noise.

XRP’s bullish momentum has stalled at levels above its 2021 top of $1.96. The XRPL native token surged past the peak amid a November uptrend to $2.9097, posting an over 100% gain during the run.

However, since then, XRP has retraced 25%. Last week, the asset briefly retested below $2 amid a broader market retracement before rebounding to its current market price.

Amid the market uncertainties, market analyst Egrag Crypto has insisted it is all noise at the moment. In a recent commentary, the expert maintained that XRP’s reaction to two crucial price levels would reveal its next direction.

Two Crucial Levels to Watch

According to Egrag’s analysis, XRP will continue to trend within its current range until it breaks either the upper or lower boundary. The seasoned speculator mentioned in an earlier analysis that XRP has entered a micro range and will maintain a fluctuation between $2 and $2.9 until a confirmed breakout.

Meanwhile, Egrag suggested that a break below $2 would ensure lower prices for XRP. The analyst’s chart shows that if it loses this level, XRP will target $1.64 and probably $1.3700, as another commentator, Dom, speculated.

Furthermore, Egrag inferred that a push past $2.65 would spur a bullish breakout. From there, XRP could surge to higher prices like $3 and $5, as other analysts expect.

XRP Ready to Explode

Additionally, market analyst and community figure Gordon insists that XRP is ready to explode despite the recent downtrend. He tweeted that XRP’s chart is currently one of the most bullish in the crypto market.

In an accompanying XRP/USD 12-hour chart, he shared that XRP is currently forming a symmetrical triangle. The analyst mentioned that a breakout from the bullish pattern would catalyze a surge to a new all-time high.

Meanwhile, XRP trades at $2.1706, down 6% in the past 24 hours.

Crypto analyst Steph points out that the total XRP supply is shrinking significantly while demand for the token remains high.

Steph cited data from the analytics platform CryptoQuant. The chart he shared depicted that XRP’s maximum supply of 100 billion is seeing a sharp decrease in recent years. In contrast to the decline in available supply, the price of XRP has been on a strong upward trajectory.

Accordingly, Steph suggested that demand for XRP is rising sharply. He asserted that the next price movement of XRP could be explosive and that it is only a matter of time before such an explosion occurs.

Notably, XRP has been in a bearish trend over the past three weeks, and this analyst used the token’s decreasing supply as a basis to argue for a major bull rally.

Is XRP Supply Really Shrinking?

However, it is important to note that while the shared chart depicted a strong declining pattern in XRP’s total supply, the actual figures tell a slightly different story.

In particular, out of XRP’s 100 billion supply, only 13,275,691 XRP, or 13.27 million tokens, have been destroyed and permanently removed from circulation. As a result, XRP’s total supply still stands at a staggering 99.986 billion tokens.

This substantial volume contradicts the narrative that the supply is rapidly shrinking, casting doubt on the expectation of an imminent major price surge based solely on supply constraints.

XRP Supply on Exchanges Compared to Other Tokens

Moreover, the reserve of XRP on centralized exchanges has largely remained the same throughout 2024, with no steep decline as observable with other crypto assets.

Notably, the supply of XRP on the largest crypto exchange, Binance, decreased in November from 3.14 billion to 2.79 billion on December 16. Yet, it is growing quickly again toward the 3 billion mark. Besides, the current figure mirrors the volume that has been on Binance for most of 2024.

On the other hand, crypto assets like Bitcoin, Ethereum, and Shiba Inu are experiencing a sharp decline in available supplies on exchanges.

For instance, 167.34 trillion SHIB tokens were on exchanges last December, but the current figure is now 134.4 trillion. Similarly, Ethereum’s supply on exchanges, which was at 20.66 million a year ago, dropped to 18.6 million in September. While it is now back at 19 million, the overall trend shows a steep decline.

Likewise, Bitcoin, which started the year with 3.07 million BTC tokens on exchanges, has seen this number drop to 2.42 million.

Meanwhile, regardless of XRP’s supply data, analysts remain bold with XRP price predictions. Some argue that the current supply is inconsequential in the broader scheme.