XRP Price Prediction: Breakout Chart Identical to 2017 Rally Sparks Bullish Frenzy

The XRP price has reclaimed $2.23 today, with its 1% increase coming as the cryptocurrency market as a whole falls by 2% in the past 24 hours.

XRP is now up by 3% in a week, and while it remains down by 6% in the last 30 days it boasts an impressive 350% increase in a year.

And what’s bullish today is that its chart is producing a pattern we last saw in 2017, prior to enjoying a huge breakout to its still-current ATH of $3.40.

This could mean that something similar is about to happen again, and given Ripple’s strong fundamentals, the long-term XRP price prediction looks very promising.

If we zoom out and look at XRP’s one-week chart, it becomes clear that it may be on the same path as it followed in 2017, albeit on a bigger scale.

Back in 2017, XRP experienced an initial rally to about $0.4 in May, before correcting a little over the summer and then launching a surge towards $3.40 in December and January.

We could therefore argue that something similar is happening this year: after reaching a seven-year high of $3.31 in January, the XRP price has corrected to $2.23 but now appears to be regathering the momentum whereby it could rise even higher.