Fresh excitement has swept through the XRP community after a detailed analysis predicted that the digital asset may soon experience a significant supply shock. According to ChartNerd, XRP’s technical structure is mirroring its historic 2017 setup, indicating that the token could surge toward the $13 to $27 range.
The analyst’s chart revealed a long-term wedge breakout that resembles the pattern formed before XRP’s previous bull run. During the 2017 cycle, XRP completed all Fibonacci targets and reached remarkable highs.
This time, the same Fibonacci extensions point to much higher targets, suggesting a renewed expansion phase that may redefine XRP’s market outlook.
The chart indicated that XRP has already broken past key resistance levels, positioning itself for another potential parabolic move. The analysis also identified a recurring pattern where prolonged consolidation periods are followed by aggressive rallies once the breakout is confirmed.
Consequently, many traders now believe XRP could be entering a similar phase of price acceleration.
Technical Indicators Support the Bullish Forecast
ChartNerd’s analysis highlighted three major Fibonacci targets at $8.50, $13.76, and $27.49, which correspond with previous extension levels achieved in earlier cycles. These projections mark the expected resistance zones if XRP maintains its bullish momentum.
Moreover, the study emphasized the potential for a “supply shock,” implying that limited available tokens could amplify price gains once demand rises sharply.
Besides, the Relative Strength Index (RSI) showed growing strength, currently trending near 80. The analyst projected an eventual move above 95, replicating the 2017 overbought conditions that preceded a sharp correction. Investors are keeping a close eye on RSI signals as they may indicate the approach of a market peak.
Furthermore, ChartNerd pointed out that XRP’s breakout from its 2018–2024 consolidation pattern aligns with broader cycle symmetry. This historical consistency gives weight to the possibility of another strong upward leg, assuming broader market conditions remain supportive.
Bullish Outlook Based on Chart Structure
The current chart structure, combined with Fibonacci targets and RSI projections, suggests that XRP is well-positioned for a potential price surge. With its breakout from long-term consolidation, XRP could be on track to reach the $13 to $27 range if it continues to follow the patterns from previous cycles.