A comprehensive technical analysis from crypto analyst Maelius suggests XRP could be setting up for a massive rally to $19, even in a worst-case scenario. The analysis, which draws striking parallels to XRP’s 2017 bull run, identifies a “giga bull flag” pattern that could trigger significant upside momentum.
Technical Setup Mirrors 2017 Bull Run
The current weekly chart structure shows XRP trading at $2.25, maintaining position above the critical 50-period EMA at $1.78. The token has formed a clear bull flag pattern over the past four months, with lower highs capping at $3.40 and higher lows finding support near $1.61.
This compression mirrors the setup seen before XRP’s historic 2017 surge, where the token exploded from sub-dollar prices to over $3.00 in mere weeks. The potential for an alt season breakout adds further weight to this bullish scenario.
Key Price Levels and RSI Analysis
Critical support levels include:
- Upper flag boundary: $2.50
- EMA support: $1.80
- Secondary support: $1.30
The RSI indicator shows similar patterns to 2017, with two distinct peaks separated by a consolidation phase. The current RSI reading has cooled to mid-40s after reaching the high-80s, suggesting room for another momentum surge.
Potential Breakout Scenarios
A weekly close above $2.50 could trigger a cascade of technical breakouts targeting:
- Initial resistance: $4.40
- Secondary target: $6.00
- Ultimate target: $19.00
Risk Factors and Market Conditions
While the technical setup appears promising, traders should consider:
- Volume confirmation needed
- Broader market sentiment impact
- Support level integrity at $1.80
FAQ Section
Q: What could invalidate this bullish scenario?
A: A decisive break below the $1.80 EMA support would invalidate the pattern.
Q: How long might this rally take to materialize?
A: Based on historical patterns, significant moves can occur within weeks once key resistance breaks.
Q: What’s the significance of the $19 target?
A: This level represents the projection based on the 2017 fractal pattern scaled to current market conditions.
At time of writing, XRP trades at $2.23, maintaining its position above key moving averages while the market awaits potential catalysts for the next major move.
