XRP Chart Identical to 2017 Before Massive 1,532% Rally, Says Cryptocurrency Analyst

A crypto analyst says he’s seeing parallels between XRP’s performance this year and its massive rise back in 2017.

The technical trader, known in the industry as Magic, tells his 31,000 followers that XRP’s current chart mirrors its price action back in late 2017. XRP briefly went parabolic at the time, clocking a 1,532% rally from $0.2352 on December 10, 2017 to an all-time high of $3.84 on January 3rd.

XRP hit the high mark two weeks after Bitcoin reached its all-time high of $20,089, according to data from CoinMarketCap.

Magic warns that there’s no guarantee XRP will go parabolic once again, and says anything can happen in the volatile world of crypto.

“This could be the real deal folks. XRP’s chart looks identical to 2017 before the massive rally, and resistance has been thoroughly destroyed. Nothing is guaranteed. Stops are my best friend in times like this.”

Source: CoinMarketCap, January 2019 – February 2019
Source: CoinMarketCap December 2017 – January 2018

XRP has surged 61% since January 1st, moving from $0.1935 to $0.3121 at time of publishing, according to CoinMarketCap.

In addition, the XRP Ledger just logged its biggest single day of daily active address creation, according to the crypto analytics firm Santiment.

“Ripple [XRP] recently saw its largest single day in daily active addresses created in the token’s 6+ year history, according to our Sandata platform. XRP is up 16.3% since this spike last week, only overshadowed due to ETH’s rise.”

Source: Santiment
Check Latest News Headlines




Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

The post XRP Chart Identical to 2017 Before Massive 1,532% Rally, Says Cryptocurrency Analyst appeared first on The Daily Hodl.

About the author