There are similar opinions on other investment sites, here is what CoinTelegraph wrote:

In order to understand whether the traders should expect a further rally or a correction, we have gone back to the start of the year using a log scale.

Ripple has a history of sharp rallies, which are followed by a period of correction/consolidation.

The first up move from March 2 to April 2 of this year saw about 1,100 percent rise. The second rally from April 25 to May 17 resulted in 1,183 percent gain. The most recent rally from Dec. 11 to Jan. 4 led to 1,390 percent growth.

We find that the duration of the up move and the quantum of the rally is almost similar in all the three instances. So there might be a chance the XRP/USD pair has just formed a short-term top.

Both the previous corrections found support at about 61.8 percent Fibonacci retracement of the rally. If history repeats itself, we are likely to see a fall to $1.40 levels.

However, this is not an exact science and the above-mentioned projections will be invalidated if Ripple breaks out and sustains above $3.317.