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XRP Eyes Explosive Surge as Market Trends Mirror 2017 Cycle
Cryptonewsland (CNL) has analyzed recent market trends and observed a striking similarity with the 2017 cycle. The data suggests that XRP’s price action mirrors this previous trend, hinting at a potential 2,500% surge in the coming weeks.
Notably, large wallet activity has reflected shifting sentiment in the market. A decrease in selling pressure or an increase in buying interest among major investors was observed between February 25 and March 3, coinciding with XRP’s price decline followed by a sharp rebound.
The data analysis suggests that these changes in large wallet holdings have been mirrored in XRP’s erratic price behavior. This trend is eerily reminiscent of the 2017 cycle, where similar price movements preceded a substantial surge.
Furthermore, technical indicators point to strong support for XRP, as the 21 EMA has closed above with minimal wick. Historically, such formations have preceded upward moves in the market. If this cycle aligns with past trends, XRP could reach the Fibonacci 1.618 level, targeting a price range of $27-$33 by May 2025.
Moreover, historical patterns suggest that explosive moves often occur within a short period. If this trend is repeated, XRP could experience a substantial surge in just 28 days, aligning with broader market cycles and increasing institutional interest.
As the markets continue to fluctuate, investors should keep a close eye on XRP’s price action.
Source: https://cryptonewsland.com/xrp-eyes-explosive-surge-as-market-trends-mirror-2017-cycle/
