New XRP Rally Incoming? Analyst Believes This Cycle Is Unique
XRP investors are keeping an eye on a crucial price level this week. Bitcoin has managed to reclaim above $100,000 and Ethereum is over $2,300. XRP has recorded a modest increase as well but still hovers at the lower part of the $2 price range. From a chart of a market observer who goes by the name of Guy on the Earth, XRP has held above a persistent horizontal trendline at $2.
Historical Price Rollercoaster
Back in March 2017, XRP burst in price, rising from $0.0055 to a high of $3.80. After peaking at that all-time high in January 2018, it fell hard. XRP initially broke through $2 on December 30, 2017. By January 13, 2018two weeks laterit dipped below again. That initial test revealed the $2 level was more resistance than support for new buyers.
Related Reading: Taiwan Official Proposes Bitcoin As Part Of National Reserve Strategy
Failed Breaks After Rally
XRP attempted to break past that level once more in April 2021. It peaked at $1.96 but could not make further progress. From January 2018 all the way up to December 2024, the $2 line acted as a ceiling. Traders watched it cap price action for almost seven years. Every time XRP hit against that wall, it fell back into the $1 zone.
Recent Break Above TwoThats about as clean as it gets.
This time it is different.
This time its XRP. pic.twitter.com/9mK8QVuQVX
Guy on the Earth (@guyontheearth) May 9, 2025
Based on reports, XRP finally cleared the $2 trendline in December 2024, when broader markets jumped on a bullish wave. Since then, the coin has stayed above this line for almost five months. Thats a first in XRPs history. While its bounce hasnt been as fast as Bitcoins or Ethereums, holding this level longer than ever feels different.
Analyst Predictions And WarningsAs per Guy on the Earth, remaining above $2 would pave the way for greater prices. He previously predicted an increase to $3.30, which already occurred. His next goal rests at $5.30, where he advises traders to take profit. He said this time is different for the altcoin.
Wider Risks And OutlookThis trend in prices is just half the story. Ripples legal battle against the SEC and regulatory updates for crypto would do the trick. On-chain metrics such as active accounts or large transfers would put some perspective behind that $2 hold.
Traders should pay attention to sudden spikes in daily volume around this line. If XRP drops below $1.80 on a daily chart, some analysts will declare the setup invalid. For the moment, however, many view this extension above $2 as a signal that XRPs next act could be better than its previous one.
Featured image from Unsplash, chart from TradingView
Read more: https://www.newsbtc.com/altcoin/new-xrp-rally-incoming-analyst-believes-this-cycle-is-unique/
Text source: NewsBTC
