 
 
Like Bitcoin, many altcoins suffered a significant decline on October 11th following the crypto market crash. However, leading Altcoins like Ripple’s XRP are already repositioning for a price rebound. Technical chart data hints at an imminent price recovery and a potential surge to higher highs.
XRP bulls mimic previous market cycles
Speaking to this effect, pseudonymous market player Dan Crypto remarks that the XRP cyclical structure is once again displaying a striking similarity with previous market cycles.
The analyst observed that the XRP bulls failed to retest previous ATHs after a massive price run recorded in 2017. However, the asset revisited its 2014 high, a crucial resistance level, and proceeded to kick off a notable price run.
“After the major rally in 2017, the price was rejected from the 2013 ATH level and then retested the 2014 ATH level, which had previously acted as resistance. After accumulating strength in this area, it began its parabolic run. Today, the picture is almost identical.” He wrote, in a post shared to X.
Similarly, the market recorded the same pattern in 2024 when XRP bulls attempted to retest its 2017 ATH. The analyst predicts that the next rally is imminent; however, he urges market players to exercise patience.
 
As his post reads;
“After the strong surge in 2024, the price was rejected at the 2017 ATH level and retested the 2021 ATH level, which had previously acted as resistance. Now, the power accumulation phase is ongoing in this region. Following this consolidation, the next parabolic run will be inevitable. Patience is the most valuable strategy in this cycle.”
Trading at a press time price of $2.27, XRP is down 7.09% from the last 24 hours. In the previous 7 days, XRP has lost 19% of its price value, although its year-to-date value has surged by 24%. If bulls sustain the current moment, the market could see XRP restating its previous all-time high of $3.84.
Source: https://zycrypto.com/inevitable-xrp-parabolic-run-ahead-says-analyst-as-historical-cycle-pattern-repeats/
