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XRP News Today: The 2017 Surge of XRP Faces Off Against Today’s Market Conditions

XRP News Today: The 2017 Surge of XRP Faces Off Against Today’s Market Conditions

Bitget-RWA2025/11/24 19:34
By:Bitget-RWA

- Analyst Steph Is Crypto notes XRP's 2017-like price patterns, including Gaussian channel breakouts and 42-day corrections, suggesting potential for a "massive" upward move. - Whale accumulation of $7.7B XRP and new ETFs (e.g., Franklin Templeton's XRPZ) signal institutional confidence despite recent price dips below $2.00. - Technical indicators show bullish RSI divergence and critical support at $1.90-$2.06, but liquidation risks and whale sell-offs ($480M in 48 hours) highlight volatility. - Regulatory

XRP holders are actively speculating after well-known analyst Steph Is Crypto pointed out similarities between the current price action and XRP’s notable bull run in 2017. Sharing his insights on X, he focused on a breakout from the Gaussian channel and a 42-day correction that closely resembles the events of 2017,

. Despite recently falling below the $2.00 mark, XRP has demonstrated strength amid turbulent market conditions, and institutional players are showing interest.

XRP News Today: The 2017 Surge of XRP Faces Off Against Today’s Market Conditions image 0
Steph’s technical review focuses on XRP’s movement back into the Gaussian channel, which serves as a major trend signal. “When the price moves through this channel, it often marks the start of an early reversal,” he stated, . This observation is consistent with past trends: in 2017, XRP rebounded after a comparable 51-day downturn. The ongoing 42-day decline, during which slipped below the channel on October 10 amid heavy liquidations, .

Large-scale investor activity is adding to the positive sentiment.

by major holders over the last quarter, indicating a long-term outlook despite the overall bearish trend. of a double-bottom formation, with the $2.06 support level being crucial for a potential move toward $2.30 and $3.50. However, : XRP whales offloaded $480 million in tokens within two days, raising concerns about declining confidence.

The institutional scene is changing quickly. Franklin Templeton’s XRPZ ETF, which launched on NYSE Arca with a 0.19% expense ratio,

, joining products from Grayscale, Bitwise, and Canary Capital. The ETF’s introduction came after regulatory approval for spot XRP offerings, with Bitwise and 21Shares preparing to release their own ETFs. These moves highlight XRP’s increasing acceptance in mainstream finance, though price steadiness remains a challenge. , having steadied following an 11-day, 23% decline.

Technical signals are sending mixed messages.

– where price makes lower lows but RSI forms higher lows – points to a possible reversal. Still, and a weak MVRV ratio (showing long-term holders are not profitable) underline short-term risks. that holding above $1.90 is essential to maintain a long-term upward trajectory.

Market experts warn against relying too heavily on past patterns.

, today’s market benefits from regulatory clarity after the SEC settlement and a broader institutional framework. that “XRP’s core strengths have advanced,” referencing its use in cross-border payments and increased liquidity.

As XRP approaches a pivotal moment, investors are weighing optimism against caution. The combined effects of whale activity, institutional ETF inflows, and technical trends

or enters a period of extended consolidation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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