## XRP Tracing the Path of 2017: Will the Descending Wedge Signal a Historic Pattern Reemergence?

**Market attention is focused on similarities to the dramatic rise of the past**

As noted by market analyst **Steph_iscrypto**, XRP's current weekly chart structure is remarkably similar to the market setup before a 13,000% surge in 2017. Like back then, after a sharp correction phase, it is forming a consolidation and sideways movement within a narrow range. This historical comparison highlights how significant the current descending wedge pattern could be as a turning point.

**Current price movement and technical structure**

XRP continues trading around $2.05, recording a 4.20% decline over the past week. On the daily chart, a clear formation of a descending wedge is observed, characterized by the convergence of trendlines. Within this wedge structure, volatility is gradually decreasing, suggesting a temporary balance of power between buyers and sellers.

Key points supporting the price action are as follows: at the lower end, **$2.20** acts as a strong support level, with multiple sessions confirming price rebounds in this area. This indicates ongoing buying interest among market participants. On the upside, **$2.36** serves as resistance, with repeated selling pressure preventing further upward movement. The narrow range between **$2.20 and $2.36** clearly defines a market compression phase.

**Market volume and signs of accumulation**

Market volume trends follow a similar pattern, showing a gradual decline. This reflects a balance of supply and demand but also suggests modest accumulation activity within a limited zone. Short-term momentum remains stable, with slight recovery movements confirmed in intraday statistics.

Interestingly, XRP's performance denominated in Bitcoin shows a slight increase of about 2.7% at the level of 0.00002205 BTC, indicating some success within the cross-market trading framework.

**Focus points ahead of the completion of the descending wedge**

The ongoing descending wedge pattern faces a test of whether the price can maintain the established support levels. Each rebound holds significance as a reaction zone where liquidity concentrates, and the upcoming sessions will determine whether momentum within the wedge remains stable. Given the dramatic rise preceding a similar structure in 2017, the market's high attention to the potential completion of the current descending wedge is understandable.