XRP Poised for Explosive Rally, Echoing 2017 Boom, Analyst Suggests
A prominent crypto chartist, known as Dark Defender, contends that XRP's current market trajectory strikingly mirrors the high-momentum conditions that preceded its monumental 2017-2018 bull run. Following a significant breakout last year, the analyst posits that XRP is now embarking on a fresh impulsive wave, signaling a renewed phase of upward potential.
XRP's Bullish Echoes of 2017
Dark Defender's extensive analysis segments XRP's price history into distinct "Left – Middle – Right" phases on a multi-year monthly chart. The "Left" side highlights the 2017 impulsive setup, characterized by candles consistently closing above prior highs, price maintaining above Ichimoku Cloud support, an elevated Relative Strength Index (RSI), and monthly closes surpassing a crucial exponential moving average. According to the analyst, 2017 saw an "impulsive wave" with immense momentum, volume, and speed, culminating in a five-wave advance before a period of consolidation. Crucially, the RSI, though flattening, remained above its smoothed baseline, indicating a bullish continuation rather than exhaustion. This bullish momentum stands in stark contrast to the "Middle" section, which pinpoints 2021 as a corrective A-B structure. During this phase, XRP experienced a decline from its 2018 peak and a subsequent rally topping at $1.96. Dark Defender emphasizes that the 2021 structure was definitively "corrective," with price trading below the Ichimoku Clouds, indicating bearish sentiment, and the exponential moving average being broken to the downside. The ongoing lawsuit against Ripple during this period also contributed to a climate of headline risk and subdued trend quality.
A New Impulsive Wave and Ambitious Targets
The "Right" panel of Dark Defender's chart presents a decisively bullish outlook for XRP. The analyst points to a "CRUCIAL BREAK" on November 10, 2024, which he argues initiated a sustained upside extension, effectively re-establishing an impulsive market regime. This shift is validated by a checklist of key indicators: monthly Heikin Ashi candles closing above previous highs, price successfully reclaiming and holding above the Ichimoku Cloud, a series of closes above the red Exponential Moving Average (EMA) baseline, and a resurgent RSI profile directly comparable to the 2017 impulse. He cautions that any recent pullbacks, such as one observed in February 2025, are merely corrective within this larger, ongoing advance. Technically, the current comparison hinges on consistent signals: candles closing above resistance in triangle formations, price maintaining above Cloud support, and the moving average acting as dynamic support. While Dark Defender has refrained from a specific price target in his latest update, he previously projected a significant $10.47 target in an October 2 post on X, calling it the culmination of XRP's anticipated wave-5 structure. His conviction remains strong, believing that the market conditions fostering XRP's last explosive phase are unequivocally back.
