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▲ XRP/AI-generated image
As XRP's weekly Relative Strength Index (RSI) consolidates around the 40-mark, price scenarios suggest it could reach a minimum of $2.37 to a maximum of $27.69 if past cycle rebound rates are applied. With key indicators confirming support just before the oversold zone, attention is focused on the possibility of a repeat of the major bull market experienced three times in the past.
According to virtual asset specialized media The Crypto Basic on September 26 (local time), chart analyst Bitquant shared a 2-week chart analysis of XRP, stating that current indicators align with cycle lows just before rallies in 2017, 2021, and 2024. Bitquant explained, "The current weekly Relative Strength Index is situated around 40, and in all three past cycles, a massive surge began at this point." Based on XRP's past upward patterns, currently trading around $1.47, three scenarios have been derived.
The first scenario applies the 61% increase from the 2024 rally. When the indicator rebounded from the 40-mark in July 2024, XRP rose from $0.38 to $0.61. Applying this rate of increase to the current price of $1.47 calculates a short-term target price of $2.37.
The second scenario is the 176% rally recorded during the 2021 bull market. At that time, after the indicator began to rebound around 40, XRP surged from $0.7 to $1.96. If the same 176% increase unfolds from the current level, the target price would soar to $4.07, surpassing its previous all-time high.
The final, third scenario is a replication of the historic 2017 cycle. At that time, after the indicator bounced from the 40-mark, it recorded an explosive 1,770% increase, surging from $0.17 to $3.31. If this extreme rate of increase is applied directly to the current market price, the final reached price could be $27.69.
Past technical data does not fully guarantee future price increases. However, as key technical indicators have entered the cycle bottom range maintained for many years, investors are keenly watching whether XRP can firmly hold its support line and initiate an additional rally, starting with stabilization at $2.
[Article Key Summary]
-Chart analyst Bitquant analyzed that XRP's weekly Relative Strength Index has reached the 40-mark bottom, identical to the period just before three past surges.
-Applying past cycle rebound rates, target prices of $2.37 based on 2024 and $4.07 based on 2021 were presented.
-If the 1,770% major upward trend of 2017 is directly applied, the long-term maximum target price could reach $27.69.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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