XRP's Price Pattern Mirrors 2017 Bull Run, ETF Approval Hopes Boost Retail Interest

XRP, the cryptocurrency associated with the Ripple network, has been the subject of significant attention and speculation in recent news. One of the key developments is the growing interest from retail traders and the renewed speculative activity around potential ETF approvals for XRP in mid-2025. This has sparked a renewed interest in the token, with traders closely monitoring its movements and potential for short-term upside.

EGRAG Crypto, a well-known market analyst, has presented a bullish outlook for XRP, citing a consistent technical pattern on its yearly chart. Despite recent price stagnation, EGRAG asserts that XRP is showing signs of a potential major rally driven by strong historical indicators. The foundation of EGRAG’s analysis lies in a recurring bullish engulfing candle formation observed on XRP’s yearly chart. A bullish engulfing candle consists of a small bearish candle followed by a larger bullish candle that entirely eclipses the previous one, signaling a possible trend reversal to the upside. EGRAG notes that this pattern has been evident in XRP’s price movements since 2017. He highlights the significant example of a modest red candle in 2016, followed by a massive green candle in 2017, which led to an exponential increase of over 33,000%. According to the analyst, the continuation of this pattern into 2024, reflected by what he labels “Candle 12,” is a strong technical signal that the trend could repeat. He emphasizes that bullish engulfing formations carry more weight when observed on higher time frames such as the 12-month chart, reinforcing the potential impact of the 2024 signal. The analyst points to the current year, 2025, as “Candle 13” in this ongoing pattern series. At the time of analysis, XRP had already recorded a gain for the year. Drawing parallels to previous cycles, EGRAG recalls a major price rally in 2021, referred to as “Candle 9”, which saw XRP rise by approximately 800%. If a similar increase were to occur in 2025, the asset could potentially reach $17. In addition to candlestick patterns, EGRAG identifies three ascending trendlines on the long-term XRP chart. These lines represent historical levels of support and resistance. The analyst focuses on two resistance lines: Line 1 intersects at $13, and Line 2 at $22. He believes these levels are the most probable targets if the bullish scenario unfolds, suggesting that XRP could rise to either of these values depending on how the market develops. Despite the optimistic long-term forecast, EGRAG cautions against misinterpreting short-term fluctuations as trend-defining moves. He characterizes the current price range as “market noise,” implying it is not a reliable indicator of the asset’s longer-term direction. However, he maintains that a close below would invalidate the current bullish setup, while a close above would confirm a continuation toward higher targets. EGRAG’s analysis underscores the potential for the asset to break out of its current consolidation phase and move toward double-digit prices. Backed by historical chart patterns and long-term resistance levels, his projection suggests that a rally to $13 or even $22 is plausible, provided XRP maintains its current upward momentum and avoids a close below critical support levels.

The keying of an XRP exchange-traded fund (ETF) will legitimize the altcoin as an investment asset, so it is being awaited with bated breath. As a result, confidence about its approval is going through the roof, with data showing that it has hit 84%. ETFs enable diversification at a low cost because investors are not required to purchase individual assets. An XRP ETF will open the floodgates to institutional capital, making it an ideal stepping stone in this altcoin’s ecosystem. Market analyst Titanium said, “If bullish momentum continues, the next target is $2.92. Traders should watch for resistance levels. A breakout can lead to stronger gains, making the $2.92 level a key focus. Keep an eye on support zones to manage risk effectively.”

XRP Ledger (XRPL) is the decentralized blockchain network powering XRP, its tokenization efforts have not gone unnoticed because the World Economic Forum (WEF) recently acknowledged that it is one of the most important technologies in this sector. Since tokenization entails converting real-world assets into digital tokens, XRPL’s interoperability, trust lines, and decentralized exchange (DEX), thanks to its cost-effective, efficient, and fast infrastructure, come in handy in this undertaking. Meanwhile, active XRP addresses have been hitting historic highs, signalling heightened user interest, trading, or adoption.

XRP’s chart resembles its 2017 pattern before a historic bullish rally. A similarity is emerging between XRP’s current price behavior and its performance in 2017. Back then, XRP consolidated within a narrow range for 210 days before a dramatic surge took it from approximately $0.60 to over $3.30. In the current market, XRP has been consolidating for 182 days, with the price hovering near $2.20. The chart structure appears strikingly similar to the 2017 setup, raising expectations for a possible breakout if the pattern continues in the same manner. Between May 30 and 31, XRP experienced unexpected selling pressure, reversing the gains and pushing the price down. It eventually hit the 227% Fibonacci extension at $2.12—a common target for the internal third wave of a corrective structure. The overall crypto market is down today, with major coins in the red. As for XRP, it’s currently trading at around $2.13. While it’s also down, something interesting is happening on its chart. A break above $2.31 may suggest a bullish shift, but the trend remains bearish for now.