The crypto analyst pointed to important indicators pointing to a major rally of XRP, the traditional symbol of XRP. XRP Ledger (XRPL). According to the analyst, XRP is ready for another breakout bearish trends and rise to new all-time highs
XRP To Mirror 2017 Rally To New Highs
At X (formerly Twitter) posted In June, crypto analyst, Tylie Eric expressed bullish optimism about XRP, underscoring the cryptocurrency’s potential for a major rally this year. He shared the XRP price chart that shows the price movement of the cryptocurrency from the beginning of 2014 to 2025.
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Eric revealed that XRP has met all the requirements and conditions needed to support a A potential bull is meeting a new high. The analyst also pointed out that XRP is perfectly poised to continue with “wave 3 and wave 5” of the well-known Elliott Wave Theory.
I Elliott Wave Theory is a tool used to determine price movements in cryptocurrency. Technical analysis is based on observing long-term recurring price patterns in cryptocurrency.
In his post, Eric revealed that XRP is currently showing similar patterns and situations to those seen during its bull rally in 2017. Earlier in 2017, XRP saw a huge price rally, which preceded its rise to a new high of $3.84 in 2018.
Eric suggested that XRP price he was showing the same bullish patterns, as a result, he indicated a big price increase to $36.36 before the end of 2024. The analyst also pointed out that XRP will have to see a huge 7,637.22% increase so it can reach the target price.
Despite being a cryptocurrency analyst, Eric is an active supporter of the XRP cryptocurrency. The analyst always makes bullish predictions for the altcoin, expecting it potential reversal from bearish sentiment. In addition, the crypto analyst revealed in his debut posted that XRP price action was very “boring”. This may be due to the recent decline of cryptocurrency.
As written, i The highest value of XRP is trading at $0.45, representing a 4.12% decrease in the last 24 hours and a 11.71% decrease in the last month. The popular cryptocurrency has been recorded regularly strong decline from the beginning of June.
Previously, cryptocurrency existed compounding slightly above $0.5however now the crypto currency is in a major downward trend, caused by market volatility and Ripple’s ongoing legal battle and the United States Securities and Exchange Commission (SEC).
Bullish Sentiment is Rising
Despite its declining value, XRP’s bullish sentiments from crypto analysts continue to rise. A certain crypto analyst identified as ‘Egrag Crypto’ predicted that the altcoin was approaching Fibonacci (Fib) 1.618. The analyst revealed that this unexpected development could indicate potential areas a price changes or continue on XRP.
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Egrag Crypto also shared a price chart showing the price actions of XRP from 2014 to 2024. In his post he insisted that if history repeats itself XRP could see a price increase to $27. The analyst urged investors to remain prepared and optimistic about the expected rise of XRP to $27.
The featured image was created with Dall.E, a chart from Tradingview.com
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