Historic Capitulation Wick Sparks Talk of 111,049.76% XRP Recovery Possibility

XRP has recorded its second-longest capitulation wick in history, drawing similarities to its 2017 pattern that preceded a historic rally.

Analyst JD highlighted this in a recent X post, noting that the current two-week XRP/USD candle could even surpass the 2017 wick if it closes higher. Meanwhile, he believes this is bullish, drawing context from the past occurrence.

For context, in 2017, XRP surged more than 111,000%, rising from $0.004 to nearly $3.40 after a long consolidation within a descending triangle followed by a major breakout. Before the breakout, XRP recorded a similar lower price rejection wick, which the commentator noted was its largest capitulation week. Following this, he highlighted that XRP made “BIBLICAL history.”

Recurring Pattern Suggests Massive XRP Rally

Meanwhile, the recent two-week chart from Bitstamp shows a symmetrical triangle structure that began forming in 2018. The setup includes a series of higher lows and consistent resistance levels, creating a pattern similar to the pre-rally consolidation seen eight years ago.

XRP broke out in July with its rally to $3.66, but has entered another symmetrical triangle. Its price action has pushed XRP close to the tip of the current pattern, suggesting that a breakout is imminent. The last ingredient for a breakout, the capitulation wick, just occurred, boosting confidence in a possible breakout.

However, holding the lower support of the symmetrical triangle remains key in confirming a full breakout. If the candle closes above that level, it could signal a technical continuation pattern similar to the 2017 breakout phase that led to XRP’s historic run.

Notably, JD’s post sparked a broad conversation among traders and chart analysts. A user responded that achieving the 2017 percentage increase would theoretically propel XRP to $1,317, representing a +111,049.76% gain. JD replied that such a price level is unrealistic, clarifying that his focus was on chart structure rather than numerical speculation.

XRP Market Overview and Current Price

XRP’s 2024–2025 performance has strengthened confidence in long-term technical setups and the reliability of measured triangle projections. Analysts view the fulfilled breakout target as a validation of historical chart behavior.

At the time of writing, XRP was trading at $2.44, with a 13.50% decline in 24 hours. Its market capitalization stands at $146.23 billion, placing it fifth among global cryptocurrencies. The token’s 24-hour trading volume totals $19.85 billion, supported by a circulating supply of 59.9 billion coins and a maximum supply of 100 billion XRP.