XRP's Current Move Mirrors the Setup That Fueled a 1,000% Surge in 2017

XRP has experienced a significant price increase over the past 48 hours, rising from below $2 at the beginning of the year to around $2.40. This recent uptick appears to be more than a mere bounce, as longer-term charts indicate a resemblance to XRP's pattern leading up to its breakout in 2017. In analyzing XRP's price action on the weekly candlestick chart, it shows a similar five-wave sequence marked by alternating declines and recoveries, akin to events prior to the 2017 surge. Notably, during the fifth wave of that sequence, XRP's decline moderated and formed a falling wedge, eventually leading to a breakout that drove prices beyond $0.02 and generating remarkable gains. Now, with XRP trading above $2 once again, market participants are keenly watching its next moves, as a sustained rally could replicate the previous monumental rise, targeting upwards of $22. Key resistance levels include $2.30, $2.50, and $2.80, while sustained weakness below $1.90 could signal that the recent corrective phase is not fully over.