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2024

<ul class="wp-block-list"><li>XRP repeats 2017 breakout pattern, aiming for a 2.618 Fib target near $123.</li><li>Analysts track pennant breakout and rising volume as XRP trades above $2.41.</li><li>Fibonacci cycles suggest XRP could rise to $4.85, $6.22, $27, or even over $120.</li></ul><p>XRP is trading around $2.41, showing strength after rebounding from recent lows. Analysts are now focusing on a key historical pattern. In 2017, XRP broke out from a pennant formation and surged beyond its 2.618 Fibonacci extension at $2.1331. A similar breakout occurred in late 2024, potentially setting the stage for a much larger move.</p><h2 class="wp-block-heading" id="xrp-repeats-2017-pennant-breakout-pattern">XRP Repeats 2017 Pennant Breakout Pattern</h2><p>According to analysis prepared by Javon Marks on X, <a href="https://cryptofrontnews.com/xrp-price-breakout-mirrors-2017-move-analyst-targets-50x-gain-toward-123/" rel="noopener noreferrer nofollow">XRP completed a</a> breakout in late 2024 that closely resembles its 2017 price structure. The previous breakout led to a move beyond the 2.618 Fibonacci extension near $2.13, which set off a large rally. Analysts suggest this setup has returned with stronger potential.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/JavonTM1/status/1920489820968657307 </div></figure><p>A larger pennant structure formed from early 2023 through late 2024, with the breakout confirmed on high volume. XRP’s price rebounded from a recent low of $2.07 and now holds above the daily 50-moving average. According to an observation by analyst Ali on X, “If XRP breaks through the $2.26 resistance, it could trigger a bullish breakout toward $2.60.”</p><figure class="wp-block-image"><a href="https://x.com/ali_charts/status/1920478292483977619" rel="noopener noreferrer nofollow"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfX29G557FMy4HmXioxrpzpgT04uijDrI69bvBvSXuB2i47j325RcIslCepT5lu6KoGpSofkz-ZJBT3XCj4eFlf2t1DZhTbc9NHEgqbpgkwSVEA5n5GZTJU9E3c31SyvBX44l9MvA?key=gAxC8VwjxH6jVIK89C3XTg" alt=""></a><figcaption class="wp-element-caption"><strong>Source :Ali Charts(X)</strong></figcaption></figure><p>If XRP repeats the move from its previous Fibonacci-based rally, the 2.618 extension would project a target near $123. This projection represents a more than 50x increase from the current price of $2.41.</p><h2 class="wp-block-heading" id="historical-cycles-and-fibonacci-analysis-support-long-term-rally">Historical Cycles and Fibonacci Analysis Support Long-Term Rally</h2><p>Market observer EGRAG Crypto mapped five <a href="https://cryptofrontnews.com/xrp-eyes-30-as-technical-patterns-signal/" rel="noopener noreferrer nofollow">XRP rallies since</a> 2013, using color-coded patterns. These ranged from 932% to 9,468% in previous cycles. Based on similar growth from the $0.2870 cycle low in 2022, projections indicate price levels of $4.85, $6.22, $7.68, and even $27.</p><figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc5XV8femtXlsx4vdxT_FP_5zpYaftei0xiq5mryIO8YjoRUU3FC2W_OuW4mn_M2VX0QgMbVlHruOV91QKq1EawhRmMlZ5WencX4emtgIUy9mqTDuunBQnTjQS5gIazJ56Av-QMXQ?key=gAxC8VwjxH6jVIK89C3XTg" alt=""><figcaption class="wp-element-caption"><strong>Source :Egrag Crypto(X)</strong></figcaption></figure><p>A final target above $120 could be possible if the 2024 breakout repeats the full 2017 structure. Supporting this view, Ichimoku Cloud analysis from Dr. Cat on X <a href="https://x.com/DoctorCatX/status/1919499198719746111" rel="noopener noreferrer nofollow">shows</a> that XRP must clear resistance near 5200 satoshis to continue its upward momentum. Market volume has surged 120% in 24 hours, further reinforcing this outlook.</p><p>The post <a href="https://cryptofrontnews.com/xrp-repeats-2017-breakout-pattern-fibonacci/" rel="noopener noreferrer nofollow">XRP Repeats 2017 Breakout Pattern, Fibonacci Target Points Toward $123</a> appears on <a href="https://cryptofrontnews.com" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

XRP Repeats 2017 Breakout Pattern, Fibonacci Target Points Toward $123

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