XRP Mirrors 2016 Trend That Led To 69% Crash | XRP News
XRP has struggled to create any upside traction over the previous few days, with the price rejecting above $2.15 within the center of the week and now back to lingering simply above the $2 stage.
A new long-term technical comparability shared by crypto analyst ChartNerd locations XRP’s price conduct since its July all-time high of $3.65 into an fascinating context, implying that what XRP is doing now resembles a section from its 2016 market cycle that factors to an incoming big rally.
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Repeating 2016 Rejection And ABC Crash Structure
According to crypto analyst ChartNerd, XRP’s present construction matches a related price motion that unfolded in late 2016. when price rejected an accumulation provide block and rolled into an ABC corrective transfer. That correction finally produced a 69% flash-wick decline that prolonged into the primary quarter of 2017.
The drop was extreme and unfolded over a number of months, ultimately pushing XRP to as low as $0.00240, however it will definitely represented the tip of the correction relatively than the tip of the bullish cycle.
The chart accompanying the evaluation, which is proven beneath, highlights a related rejection sample forming now. This sample relies on how the XRP price rejected at its most up-to-date all-time high in July. Since then, the month-to-month price chart has been printing consecutive purple candles, with month-to-month closes persistently beneath opens.
At the time of writing, XRP is about a 44% correction from this all-time high. This means a 69% correction is but to play out in its entirety. Therefore, if historical past repeats, a full 69% ABC-style transfer from the all-time high would drag XRP back beneath $1 and as low as $0.8. This transfer is predicted to play out into the primary quarter of 2026.
XRP Price Chart. Source: @ChartNerdTA
Potential Drop Could Be A Set-Up For A Much Larger Rally
XRP is at the moment trading at $2.04. Therefore, a deeper pullback beneath $1 will translate to a 51% lower from the present price motion. The concept of a deeper pullback from $2 is hard to think about, particularly given the inflows into Spot XRP ETFs. In truth, a pullback of that magnitude may take a look at conviction throughout the market and trigger many bullish merchants to step apart.
However, the technical evaluation frames it as a structural reset relatively than anything. In 2017, the post-crash consolidation laid the groundwork for one of XRP’s most explosive rallies on document, finally delivering positive factors in extra of 110,000%.
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If this sequence performs out as anticipated, then the actual bullish alternative would develop later in 2026. From that reset zone, the chart initiatives a long-term advance to the 1.618 Fibonacci extension, inserting a potential upside goal round $27. The visible projection within the chart above reveals a clean multi-month enlargement zone that delivers a 2,300% gain after the corrective section.
Featured image from Unsplash, chart from TradingView
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