XRP Price Action Resembles Triangle Setup That Led to 66,000% Surge in 2017

XRP's current price movement bears a striking resemblance to the symmetrical triangle pattern that led to its massive rally in 2017. After falling from $0.0614 in December 2013, XRP formed a similar triangle structure that eventually broke out in March 2017, leading to a remarkable 66,000% gain and pushing the price to $3.31 by January 2018.

Fast forward to today, XRP has formed an even larger triangle pattern, which started after the asset dropped from its peak of $3.31 in January 2018. This second triangle took much longer to develop than the first one and remained intact for years before finally breaking above the upper resistance line.

The breakout triggered a strong move higher, sending XRP from about $0.5 to $3.4 by January 2025, but the rally did not continue immediately after reaching that peak. Instead, XRP entered a deep correction that brought it back toward the previous breakout area and rising macro support.

Despite the ongoing weakness, one key momentum indicator has moved into an area that previously marked strong accumulation zones. The monthly Relative Strength Index (RSI) has dropped into oversold territory at 41.85, near levels where XRP has historically attracted long-term buying interest.