With XRP hitting a new all-time high, an analyst now projects the asset could reach $8.50 in the coming months, citing a strong technical setup.
Notably, as per the outlook, XRP’s current price action mirrors its 2017 bull run. In this case, from January to July 2025, XRP has traded within a symmetrical triangle before recently breaking out to the upside, a move that often signals the start of a parabolic rally, according to analysis by TradingShot in a July 17 post on TradingView.
This breakout coincides with an impending golden cross, where the 50-day moving average (MA) is set to cross above the 200-day moving average, a historically bullish indicator.
TradingShot noted that the setup is nearly identical to XRP’s 2017 cycle, where a falling wedge, a sharp rally, a triangle consolidation, and a final surge that peaked near the 1.5 Fibonacci extension.
At the same time, the relative strength index (RSI) for both cycles also appears similar, exhibiting “lower highs” before the triangle and “higher highs” as momentum increases.
Based on these patterns, the analyst expects XRP to climb toward $8.50 by the end of 2025, aligning with the 1.5 Fib extension.
Time to exit XRP?
Separately, on July 17, analyst Tony Severino in an X post noted that XRP’s breakout from a multi-year symmetrical triangle could signal the beginning of price discovery.
He noted the token has cleared a major horizontal resistance near its 2018 peak of $3.30, a move reminiscent of the explosive 2017 rally. However, he cautioned that such steep rallies often end in sharp corrections, urging investors to be prepared to exit positions.
XRP price analysis
At press time, XRP was trading at $3.43, down less than 0.1% in the past 24 hours, but up over 20% for the week.
Technically, XRP remains bullish, trading well above its 50-day simple moving average at $2.35 and 200-day SMA at $1.81. However, its 14-day RSI stands at 83.25, indicating overbought conditions and increasing the risk of a near-term pullback.
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