Analyst: XRP Showing 2017-Style Triangle — Breakout Could Fuel Big Rally
An analyst on X identified a repeating monthly-chart fractal for XRP that mirrors the symmetrical triangle that preceded the coin’s 2017 parabolic rally. The pattern shows a long-term triangular compression followed by a breakout above the upper trendline and a short consolidation box — the same sequence that preceded XRP’s 2017 surge. Monthly RSI has spiked into the 80s (only the second historical occurrence), suggesting a strong momentum event with a possible brief pullback before renewed strength. Market signs supportive of a larger move include increased liquidity on exchanges, sustained long-term holder conviction, and rising institutional interest. Analysts project measured-move targets far above current prices; one cited target is $45 if momentum continues and the breakout holds. Traders are advised to wait for monthly confirmation and for XRP to hold the breakout zone — failure to do so would reduce upside prospects. This is a technical analysis-driven view and not financial advice.
Bullish
The article describes a technical setup that historically preceded a major XRP rally (2017 triangle breakout). Key bullish indicators: monthly breakout above long-term resistance, triangular compression resolved to the upside, and RSI spiking into the 80s—signs of strong momentum. Additional supportive context includes improved liquidity, firm long-term holders, and rising institutional interest. If the monthly candle closes confirming the breakout and the coin holds the consolidation range, momentum traders and breakout followers are likely to add exposure, potentially driving a sharp short-term move and fueling a longer-term trend toward measured targets (the article cites $45 as an example). However, the bullish case depends on confirmation: a failure to hold the breakout zone would likely cause consolidation or a retracement, tempering upside and creating a neutral-to-bearish short-term reaction. Similar historical events: 2017 triangle breakout produced a rapid parabolic run; other altcoin breakouts often trigger fast short-covering and FOMO-driven flows that amplify price moves. Thus the immediate market impact is likely bullish if confirmed, but subject to reversal risk on failure to hold support.