Tesla Stock Witnessed Extended Consolidation Years Ago
Tesla stock witnessed an extended consolidation period a few years ago, followed by a massive upward trend, and XRP may follow a similar path.
XRP observed a breakthrough in November last year after being in a broad consolidation phase. This breakout led to a significant run for XRP, propelling the asset from approximately $0.5 to around $1.9 by December 2024. Although it reached $3.4 in January 2025, XRP has faced a pullback since February.
However, with this correction still in play, some believe that XRP may still have the potential to observe a broader run. Amid this enhanced confidence, we recently confirmed that Tesla (TSLA) witnessed a similar bearish pattern to XRP but ultimately experienced a significant run.
Tesla’s Consolidation and Price Breakout
Notably, Tesla recorded XRP’s consolidation phase from January 2018 to November 2024. Specifically, TSLA began a rapid run from December 2012, peaking at $17.67 in February 2014. However, following this peak, Tesla saw a pullback and subsequent consolidation.
This consolidation lasted several months, likely shocking investors. Tesla traded within a range between $25.97 and $11.29 from February 2014 to October 2019, approximately 2,097 days. During this period, the stock failed to break the resistance at $26, but bulls defended the psychological support at $10.
Tesla 1M Chart
However, after this consolidation ended, Tesla began to witness an impressive rally starting in November 2019. This rally encountered a hurdle in February 2020, with TSLA experiencing a massive drop of 24.24% in March 2020.
Interestingly, the asset recovered shortly after, and the next upward trend was more parabolic than the previous one. This propelled Tesla to an all-time high of $414.5 in November 2021, with this run increasing by 2,474% from Tesla’s breakout point, reaching the peak of $414.5 in November 2021.
XRP Observing a Similar Pattern
It is noteworthy that XRP has been observing a similar pattern. Specifically, after reaching $3.8 in January 2018, XRP underwent a pullback and then consolidated for a few years. The asset traded within a range from January 2018 to November 2024 between $1.9 and $0.2, essentially for 2,557 days.
However, the breakout occurred in November 2024, with XRP rising from $0.5 to $1.9. Currently, a similar pullback, akin to Tesla’s in February and March 2020, has taken place. Due to this pullback, XRP has dropped nearly 32% in February and March 2025.
XRP 1M Chart
Interestingly, XRP is now recovering, with a slight increase of 2.05% this month (April 2025). If XRP observes a similar run to Tesla, its price could surge by 2,474%. Such a rally would push XRP to approximately $50, marking a new all-time high.
Currently, XRP is trading at $2.13, having increased by 3.37% in the last 24 hours. While there are similarities with Tesla’s last run, whether XRP can secure a 2,474% rally remains to be seen. However, analysts maintain confidence in its overall potential, with one recently suggesting that a run to $10-$20 is still achievable.
