Analyst Says XRP Holders Are About to Witness a Massive Wealth Transfer

Amonyx, a prominent crypto analyst on X, has issued a striking forecast for XRP. He told holders to “stay ready,” predicting a wealth transfer that would make 2017 look like a test run. His post came alongside a multi-year XRP/BTC chart that tells its own story.

The Chart Structure

The chart is a 3-week XRP/BTC pair going back to 2013. It shows a large descending wedge forming for years. XRP has spent much of that time trending lower against Bitcoin, repeatedly compressing between two converging trendlines.

The current price action shows XRP interacting more aggressively with the descending upper trendline. That interaction typically signals a build-up of buying pressure. XRP appears to be testing that resistance zone, and the wedge is narrowing significantly.

A breakout above the upper trendline would be a major technical development on this timeframe. Amonyx believes that breakout could mirror the 2017 performance. A rocket graphic on the chart points toward the upper right, consistent with Amonyx’s bullish outlook. The current XRP/BTC price sits at 0.00001758, still inside the wedge but pressing against resistance.

What 2017 Comparisons Suggest

Amonyx did not set a specific price target. Other analysts, however, have drawn 2017 comparisons with concrete numbers attached.

XRP’s 2017-2018 bull run took the token from roughly $0.005 to a peak above $3, a cumulative gain of over 66,000%. Analyst Digital Asset Investor calculated that if XRP replicated just 10% of that 2017 rally from current prices, it would place XRP at approximately $212. Using $0.50 as the starting point from November 2024, the same calculation produces a target of around $33.55.

Separately, ChartNerd, another analyst, has identified a pattern of a double top, wick drop, and price explosion that appeared in 2016/17 before a major surge, and argues that similar conditions may be setting up now.

XRP Army Reacts

While reactions were split, many experts are bullish on XRP, and Amonyx has consistently shared bullish predictions for the digital asset.