XRP Reaches Third Retest, Analyst Sees Strong Upside Potential

Crypto analyst ChartNerd has shared a long-term chart comparing XRP's historical price action to its current structure, suggesting that it is now at a familiar technical level that has delivered major upside in previous market cycles.

The chart tracks XRP's price action from 2014 and shows a rising trendline connecting several major lows across multiple cycles. Each cycle begins with the creation of a new support level before revisiting that trendline several times, with red circles marking the initial touch and subsequent retests.

The current pattern has now reached another third retest of the same long-term trendline, with ChartNerd stating 'We've never been so aligned.. The 3rd retest marks GO!' The chart suggests that this pattern has repeated across several market cycles, with each sequence following the same order.

The projected path on the right side of the chart includes another large green box after the latest retest, but ChartNerd does not assign a specific price target. However, if we apply the 680x multiple from the 2017 cycle to XRP's current price of about $1.11, it would produce a theoretical target of roughly $754.