XRP Price Prediction: Analysts Predict Major XRP Rally Based on 2017 Pattern, But Max Keiser Says It Will Never Happen

XRP has dropped by nearly 15% so far in October, with the losses primarily driven by the US SEC's appeal in the Ripple lawsuit.

As XRP continues to trade within a key range, some analysts are predicting a major rally based on historical patterns and recent whale accumulation.

According to analyst CryptoBull, XRP’s current price behavior closely resembles its 2017 bull market trajectory. XRP had consolidated within a symmetrical triangle pattern before breaking out and rallying by 66,240% to a record high of $3.31. As of October 2024, the asset is nearing the peak of a similar triangle structure, which can be observed on its monthly chart. If XRP follows the historical precedent, then a breakout could lead to substantial gains.

However, the SEC’s recent move of filing an appeal in the Ripple lawsuit could create a significant obstacle to XRP’s bullish momentum. This is especially true if the agency succeeds in arguing that XRP’s secondary sales to retail investors violated US securities laws.

On the other hand, a vocal Bitcoin maximalist, Max Keiser has teased XRP holders in a recent X post, stating that the XRP rally is never going to happen. Over the past few years, Keiser has served as a Bitcoin advisor to El Salvador’s President, Nayib Bukele. The country had adopted BTC as its official and the only legal currency for its citizens.

Being a Bitcoin maximalist, Keiser frequently criticizes altcoins, particularly the top ones like XRP, SOL, ADA, and ETH, labeling them as centralized “s-coins.” On one occasion, Keiser expressed agreement with the SEC and its chairman Gary Gensler’s position that altcoins are unregistered securities, as the agency sued several crypto platforms in the U.S.

Earlier in May, Keiser had commented that XRP was created “to steal billions from witless fools,” referring to the SEC vs Ripple case, which has been ongoing since late December 2020.

Keiser’s comment comes as the SEC has filed an appeal against the ruling made by Judge Analisa Torres in its lawsuit against Ripple. The SEC has yet to provide a more detailed explanation to support its decision to challenge the ruling.

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