Crypto analyst Galaxy shared a chart analyzing the long-term price behavior of XRP. In his analysis, he compared the current state of the asset to 2017, highlighting phases of consolidation and the potential for new highs.
Comparing Current Trends with 2017
The chart tracks the price performance of XRP from 2014 to 2025 and outlines two major phases of consolidation. The first occurred before the significant rally of late 2017, when the asset broke out of a prolonged base near the $0.03 to $0.06 level. That move ultimately preceded XRP’s surge to $3.3, marking a 5,400% increase from the upper boundary. Currently, XRP is in another consolidation phase, ranging between $1.98 and $3.30.
Consolidation Levels and Potential Targets
Identified support and resistance levels provide context for this analysis. The lower bound near $1.98 represents the point that previously acted as resistance, which has now become support. The upper level is around $3.30 before the cycle's peak. At the time of Galaxy’s analysis, XRP traded at $2.78. A return to $3.65 would represent a moderate gain. However, repeating the 5,400% rise from 2017 could send the asset to $152.9, much higher than many investors anticipate. Despite recent declines, confidence in XRP's immediate future remains robust.
XRP Market and Its Significance for Investors
Notably, XRP has stabilized at a higher range compared to previous years. The length of this consolidation phase significantly suggests an even larger breakout than in 2017. Various analysts confirm this outlook, boosting investor confidence about the asset's potential for future growth.
The analysis of current XRP trends indicates that the asset appears ready for potential growth. Support and resistance levels represent important psychological thresholds for traders and investors, making XRP an interesting object to watch in the future.
