Here is what this can mean for the price

A prominent analyst shows the roof of the XRP market repetition It works in 2017 against the gold and silver index, with 1000 % of the stadium.

XRP has struggled over the past few weeks due to Wider The continuous disturbance of the market. With low prices From the $ 3 sign To a little less than the $ 2.6 region, the XRP market ceiling also collapsed from an increase of $ 175 billion at the beginning of February to the current number of $ 149 billion.

XRP/xau pair

Interestingly, market analyst EGRAG, in his speech a reportExperience the performance of the maximum XRP market against the gold and silver sector index (PhLX). For context, this indicator is trading on the Philadelphia Stock Exchange and tracks the shares of 30 precious metal mining companies.

It is worth noting that the Philadelphia index of the golden and silver sector is circulating with the Xau Index, the same stomach for gold Oid, this can be somewhat confusing for some merchants. However, it is important To note this carefully. The EGRAG chart displays XRP/Xau, which is mainly translated Xrp The maximum market against the index.

The analyst indicated that the higher the index (Xau) in dollars, the higher the price of XRP against the index, and this has an effect on XRP price In dollars.

XRP bounce off the balance and 7 months

According to him, the price of XRP against Xau appears to have risen over the balance stage after a huge collapse That happened This month. This collapse was due to the sudden collapse of the XRP price to $ 1.7 in What Many It is considered a strange market movement.

This collapse in the price of XRP led to a decrease in the XRP/Xau pair to the balance stage, and the subsequent recovery allowed XRP to bounce this balance. Moreover, these modern price movements also led to a similar decrease to MA for a period of 7 months and later bounced of this support.

Now, the XRP/Xau pair is being traded much higher than both balance and moving average for 7 months. EGRAG then drew attention to three rising monthly candles in the XRP/Xau pair from November 2024 to January 2025, as XRP performance was good against Xau during these months.

Select a similar trend from March to May 2017, where XRP recorded three rising monthly candles against Xau. However, the growth range of 2017 was much higher than what the market saw in the current round.

EGRAG indicated that the red sheet also appeared after the three green candle of 2017, indicating that the market Recurrent 2017 movements. If this is true, then After this current red candle, Xrp It can rise against Xau in the coming months, reflecting the direction of 2017.

What can mean 1000 % in the price of XRP

The market analyst confirmed that in 2017, this style led to a rise of 1000 % in the XRP/Xau pair. Currently, this pair is trading of $ 893.9 million, which was achieved by dividing the current market value of XRP (149.64 billion dollars) on the current price of the phlx gold and silver index ($ 167.39).

If a similar increase occurs by 1000 % while the index price remains at $ 167.39, then this will lead to a price From 9.83 billion dollars for XRP/Xau. It is worth noting that this value of the husband translates into the maximum XRP market of $ 1.64 trillion, assuming that the index is trading at 167.39 dollars. In such a maximum market, Xrp The price will sit at $ 28.5.