Analyst: XRP Could Reach $46 If It Repeats 2017 Fibonacci Extension
A crypto analyst known as XRP Captain highlighted a historical Fibonacci extension on XRP’s 2017 chart and suggested that repeating that 2.168 extension could push XRP to about $46. Current XRP trades near $1.44, with monthly Fibonacci support levels at 0.618 ($0.95), 0.786 ($1.32) and 1.0 ($2.00). Intermediate extensions cited include 1.272 at $3.39 and 1.618 at $6.63, which are potential checkpoints before the 2.168 extension target. The projection is purely technical, based on repeating past price patterns and Fibonacci levels; the analyst notes XRP has respected these levels historically. The article stresses consolidation between the 0.786 and 1.272 levels and lower volatility, which could precede a strong run if buying pressure returns. Disclaimer: this is not financial advice.
Bullish
The news is technical and bullish in tone because it points to a large upside scenario if historical Fibonacci extensions repeat. For traders, this kind of projection can increase speculative demand and buying interest, especially among momentum and retail traders who follow on-chain/technical charts. Short-term impact: likely increased attention and higher intraday volume as traders test the cited support (0.618/0.786) and watch breakouts above resistance levels (1.0, 1.272). Volatility may rise around key checkpoints (1.272 at $3.39, 1.618 at $6.63). Long-term impact: the $46 target is contingent on a full repeat of a historical cycle — an optimistic outlier — so while it supports a bullish narrative, fundamental, regulatory, and macro factors would need to align for such extreme upside. Similar past events: crypto markets have seen aggressive rallies when popular Fibonacci targets aligned with renewed market liquidity (e.g., post-2017 style rallies in multiple altcoins). Traders should treat this as a scenario-based technical thesis, size positions carefully, use stop-losses around the cited supports, and not rely solely on Fibonacci projections.