- XRP was mirroring its 2017 surge – however this time, the dimensions is greater than twice as giant.
- Will it repeat its historic collapse or break the cycle to defy the percentages?
Ripple’s [XRP] November 2024 breakout is unfolding in a sample strikingly just like its 2017 surge – however this time, it’s greater than twice as giant, in line with analysts.
In This fall 2017, XRP noticed an enormous parabolic surge, closing at an all-time excessive of $3.30 by mid-Q1 2018.
Quick ahead to This fall 2024, and Ripple has already delivered a 697% rally to $3.40, pushed by real-world adoption and the SEC lawsuit.
Supply: Coinalyze (XRP/USDT)
But sustaining this stage stays a key problem. Regardless of Trump’s pro-Ripple stance, XRP was buying and selling at $2.52, at press time, down 35.2% from its peak.
Nevertheless, within the 2017–18 cycle, XRP collapsed to $0.63 by the tip of Q2 2018, wiping out almost all positive factors and coming into a chronic consolidation.
Whether or not historical past repeats or Ripple charts a brand new course stays the vital query.
Is a 2018-style rally nonetheless a risk for XRP?
From a technical standpoint, XRP has established a strong help zone at $2 on its 1D chart, testing this stage twice because the post-election rally.
The primary bounce pushed XRP above $3.30, supported by a bullish MACD crossover.
Though a market-wide selloff pulled XRP again to $2, the cryptocurrency demonstrated resilience with a 26% rebound to $2.52 inside every week.
Nevertheless, energetic addresses have declined sharply. After peaking at 873,184 two years in the past, the rely has dropped to 331,516—a big lower from 580,000 simply 4 days in the past when XRP retested $2.90.
Supply: Glassnode
Regardless of this, sell-side liquidity has been absorbed.
Whale accumulation has surged, with the largest wallets hitting an all-time excessive throughout the post-election rally. No vital distribution has occurred, reinforcing the $2 help zone.
If Ripple preserves its present construction and stabilizes on-chain metrics, a 2025 breakout towards a brand new all-time excessive is feasible.
This situation reduces the chance of a 2018-style collapse, providing optimism for sustained development in Ripple’s efficiency.
