A cryptocurrency analyst suggested that XRP appears to be forming “one of the most important multi-year structural patterns to date,” which could lead the altcoin to a rally similar to its 2017 expansion.

Extension similar to XRP Eyes 2017

On Thursday, market watcher ChartNerd said that XRP appears to be repeating a setup that may exceed the size of its pre-2017 breakout pattern, which has led to a massive 68,000% expansion this cycle.

Analyst in the video explained that the altcoin has been on the rise since 2020, when the price bottomed out in the bear market and created a rising level of support that lasted for almost six years.

Since then, XRP has been resembling its pre-2017 performance, when the cryptocurrency saw significant gains after retesting rising support, followed by piercing corrections in descending channels.

As the chart shows, the altcoin saw a 10x move between 2020 and 2021, followed by a bear market in 2022. After bottoming out, XRP saw another two-fold augment before retesting the trendline for the first time. The price then increased another 6-7 times between behind schedule 2024 and mid-2025, leading to a July high (ATH) of $3.65.

Currently, the cryptocurrency is developing a similar corrective pattern to the previous two retests of rising support, which, if confirmed, could suggest upside potential of 1,992% to the double-digit target.

“If XRP continues to follow this pattern through the end of 2026, we could potentially see a third retest at this point, something we saw in the early cycles before the 2017 expansion.” – said the analyst.

He also added that “if we repeat this kind of multi-year cycle from before, only on a larger scale, this could be one of the largest structural phases in which XRP builds a base and waits to grow.”

Consolidation by the end of May?

ChardNerd too common short-term forecast for XRP based on its performance over the last 11 weeks. He noted that on the daily time horizon, the altcoin continues to oscillate between major descending resistance and rising support levels, forming a triangle pattern.

So as you can see, since we formed a base in February, we went down to $1.11, we created resistance, which came back up, creating an increasing support level at approximately $1.28. We then saw a break of this trend to around $1.50 and moved back to the support line.

Taking this into account, as well as the fact that its RSI levels are oversold on the daily time frame, the analyst believes that XRP may build a base near rising support before attempting to retest descending resistance.

Nevertheless, he observed that “as we are approaching this range and there have been approximately 8-9, maybe 10 weeks of price action within this range, it is likely that we will continue to see compression” pressing into the top of the pattern until at least mid-May, when price is expected to make a directional breakout from the pattern.

Ultimately, the market observer suggested that “as long as we respect the trend line and continue to defend rising support (…), we expect a retest back towards the $1.50 level in the short term.”

Featured image from Unsplash.com, chart from TradingView.com