XRP Poised for Massive 1,000% Surge? Analyst Draws Parallels to 2017 Run Against Gold and Silver Index
XRP, one of the leading cryptocurrencies by market cap, has faced significant headwinds in recent weeks. With prices plummeting from $3 to just below $2.6, its market cap has shrunk from $175 billion at the start of February to $149 billion. Despite the bearish trend, a prominent market analyst, EGRAG, suggests that XRP could be on the verge of a massive rally reminiscent of its 2017 performance against the Philadelphia (PHLX) gold and silver sector index.
XRP vs. Philadelphia Gold and Silver Index: A Historical Perspective
The Philadelphia gold and silver sector index, traded under the ticker XAU on the Philadelphia Stock Exchange, tracks the stocks of 30 major precious metal mining companies. Interestingly, the ticker XAU is also the symbol for gold ounces, which often confuses traders. However, EGRAG’s analysis focuses on the XRP/XAU pair, representing XRP’s market cap relative to the index’s value.
EGRAG’s research indicates an intriguing pattern: when the XAU index drops in dollar terms, the XRP/XAU pair tends to rise, influencing XRP’s price against the dollar. The analyst points out that XRP has recently rebounded from an equilibrium phase following a sharp price drop to $1.7, which many labeled as an unusual market movement.
XRP Bounces Off Equilibrium and 7-Month Moving Average
EGRAG’s analysis shows that after crashing to the equilibrium phase, XRP rebounded strongly, reclaiming ground above both the equilibrium level and the 7-month moving average. This recovery was accompanied by three bullish monthly candles from November 2024 to January 2025, indicating a positive performance against the XAU index during this period.
The pattern observed by EGRAG is remarkably similar to the trend seen between March and May 2017, when XRP posted three consecutive bullish monthly candles against XAU. Notably, in 2017, this was followed by a red monthly candle before XRP skyrocketed against XAU, marking a 1,000% surge.
Is History About to Repeat? XRP’s Potential 1,000% Run
According to EGRAG, the current market movement mirrors the 2017 cycle. Should history repeat itself, XRP could be poised for a dramatic surge against XAU. In 2017, the XRP/XAU pair experienced a staggering 1,000% spike following a similar pattern of bullish candles.
At present, the XRP/XAU pair is valued at $893.9 million, calculated by dividing XRP’s current market cap of $149.64 billion by the XAU index’s price of $167.39. If XRP replicates its 2017 performance with a 1,000% surge while the index remains at $167.39, the XRP/XAU pair would reach $9.83 billion. This would translate to a jaw-dropping market cap of $1.64 trillion for XRP, pushing its price to approximately $28.5 per coin.
Market Speculation and Potential Impact
The possibility of XRP repeating its 2017 bull run has sparked excitement and speculation within the cryptocurrency community. Traders and investors are closely watching the XRP/XAU pair and the broader market dynamics, looking for any signs that might confirm EGRAG’s bold prediction.
As XRP navigates this critical juncture, market participants are left wondering: will history indeed repeat itself, leading to a monumental 1,000% surge?
