XRP News Today: XRP Eyes $9-$24 as 2024 Crossover Mirrors 2017's 40,000% Surge

XRP has re-entered the spotlight as technical analysts highlight a potential breakout scenario rooted in historical price patterns. According to analysis from EGRAG Crypto, a bullish crossover between the 21-week Exponential Moving Average (EMA) and the 55-week Simple Moving Average (SMA) in October 2024 could propel the token to $9 or $24, mirroring past cycles. This projection, based on historical precedent, underscores XRP’s recurring tendency to surge following this technical signal [1].

The EMA/SMA crossover has historically served as a reliable catalyst for XRP’s most significant rallies. In March 2017, a similar crossover marked the start of a 40,000% surge, pushing the token to its all-time high of $3.84. A more modest but still notable 750% rally followed in August 2020. The current cycle has already seen a 560% price increase since the 2024 crossover, reigniting speculation about further gains [1].

Analysts outline two primary scenarios for this cycle. If the pattern replicates 10% of the 2017 rally, a 4,000% gain could drive XRP toward $24. Conversely, a 1,500% increase—double the 2020 cycle’s momentum—would position the token near $9. EGRAG Crypto notes that the 2020 cycle was among the weakest in terms of market momentum, suggesting stronger institutional adoption of XRP’s underlying technology could tilt the outcome toward the higher end of the forecast [1].

Technical analysis is not the sole driver of optimism. Ripple’s expansion into global finance, particularly cross-border payments and stablecoins, is bolstering XRP’s long-term utility. The launch of RLUSD, a U.S. dollar-backed stablecoin on the XRP Ledger, is expected to enhance liquidity and reinforce XRP’s role in settlement and remittance markets. Additionally, the Federal Reserve Bank of Atlanta recently cited XRP in a Web3 report as a potential medium for wholesale settlement, signaling growing institutional validation of its real-world applications [1].

XRP currently trades above $1.70, with critical resistance near the $3 level. Analysts argue that reclaiming and sustaining this threshold could trigger a price discovery phase, allowing the token to explore higher targets. However, the $9–$24 range remains speculative, contingent on XRP maintaining its technical momentum and favorable macroeconomic conditions. Regulatory shifts, macroeconomic trends, and competitive dynamics within the crypto space could influence whether these projections materialize [1].

While the broader crypto market remains volatile, XRP’s technical indicators have diverged from general trends, a divergence attributed to its unique adoption metrics. Traders emphasize that the token’s ability to hold above $2.80 preserves the bullish structure, with some drawing parallels to Bitcoin’s historical performance under similar conditions. Nevertheless, the projections are conditional on sustained market sentiment and the absence of external shocks [2].

Sources:

[1] [title1] [url1](https://coinmarketcap.com/community/articles/688518c58a3c8716fae8e399/)

[2] [title2] [url2](https://timestabloid.com/analyst-says-xrp-could-hit-9-or-24-this-cycle-if-this-bullish-history-repeats/)