[Analysis] "Ripple, Similar to 2017 Surge…Possible 100% Increase from Current Price"

There is a claim that Ripple could rise by about 100% from its current price.

On the 16th (local time), Cointelegraph stated, "Ripple's price movement is similar to the time in early 2017 when Bitcoin (BTC) surged by 2,500%," and "considering technical indicators and the macro environment, further increases in Ripple are possible."

In particular, it noted that the Relative Strength Index (RSI) of the XRP/BTC pair recently surpassed 70, entering the overbought zone. The media stated, "Generally, when the RSI exceeds 70, it suggests a price correction, but in a strong market situation, it can actually trigger a price surge," and "in early 2017, the XRP/BTC RSI also surpassed 70, but the ICO boom and strong market sentiment at the time led to Ripple's surge." With the Trump administration's inauguration, the possibility of resolving the lawsuit between the SEC and Ripple is increasing, and the expectation of Ripple's spot ETF approval is rising, indicating similar upward factors to early 2017.

Positive signals are also appearing in chart analysis. The XRP/BTC has broken out of an 8-year symmetrical triangle pattern, recreating a situation similar to 2017. The media predicted, "If the fractal pattern is reproduced, the XRP/BTC could reach 6471 satoshis, which is the 0.236 Fibonacci retracement level," meaning "this represents an approximate 100% increase from the current price."