Altcoins
Here’s When 100 XRP Could Be Worth $10,000 If XRP Price Follows 2017 Trend
Here’s how 100 XRP tokens could be worth a whopping $10,000 if XRP price follows 2017’s bullish trajectory.
XRP has recorded one of its most historic runs from January to December 2017In January 2018, XRP had outperformed the rest of the market, recording an incredible price increase. XRP sought to replicate this trend in the 2021 bull market, but faced strong opposition due to the SEC lawsuit.
Now with XRP declared unsafe and the trial about to concludeMarket commentators believe a repeat of the 2017 series is imminent.
XRP’s historic run in 2017
To put things in context, XRP started 2017 with a low price of $0.00678 after experiencing a bearish fourth quarter in 2016. Interestingly, during Q4 2016, the rest of the market was in the pre-bull phase. During this time, XRP underperformed significantly, with this bearish trend extending into 2017.
From the opening price of $0.00678 in 2017, XRP collapsed to a minimum of $0.005 in February 2017. However, it eventually recovered, initially reaching a peak of $0.3988 in May of that year. This run led to a massive correction, but XRP held above $0.1 and consolidated at that level until November.
The XRP chart reveals that XRP has formed a symmetrical triangle during the $0.3988 retracement in May 2017. XRP finally broke this triangle in December 2017, when it saw a monthly spike of 746%. It extended its run until January 2018, reaching an all-time high of $3.31.
It is worth noting that XRP ended 2017 at a price of $1.99, which represents a massive 29,251% increase from its opening price of $0.00678. Factoring in the breakout to January 2018, XRP saw a historic increase of 48,720% from January 2017 to January 2018.
100 XRP could be worth $10,000
Many analysts now believe that this bullish trend could repeat itself this year. Interestingly, just like in 2017, XRP also underperformed during the pre-bull phase of this year. However, XRP has seen a slight uptick annual peak of $0.7449 in March 2024. XRP has since corrected this trend, forming a symmetrical triangle similar to the one in 2017.
If history repeats itself, XRP could face a few more months of persistent declines or consolidation. However, a breakout could materialize between October and December this year. Analysts have set several targets for when such a breakout will occur, with the $100 level figuring prominently.
The $100 price target would cause the value of investors’ holdings to skyrocket. For example, at the current price level of $0.60, 100 XRP is currently worth $60. However, if XRP were to rise from $0.60 to $100, 100 XRP would be worth $10,000.
Furthermore, a rise to $100 would represent a 16,566% increase for XRP. Interestingly, this figure is significantly lower than the 29,251% increase from January to December 2017 and the 48,720% increase from January 2017 to December 2017.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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