Este artículo también está disponible en español.
A crypto analyst has set an ambitious target between $7 and $13 for the XRP price, basing his predictions on the Elliott Wave theory and Fibonacci levels. According to the analyst’s price chart, Wave 2 and 5 could push XRP to these key targets, marking new all-time highs for the cryptocurrency. XRP Price Roadmap To New ATHs
The XRP price has been on a rather lengthy consolidation trend, halting its previous price momentum after hitting the $2.5 mark. Despite facing bearish trends and a drop to $2.2, a crypto analyst on TradingView, ‘Zerpcrypto,’ has shareda bullish forecastfor the popular altcoin. Related Reading Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter? 1 day ago
According to the analyst, XRP could experience a significant price increasebetween $7.4 to $13.5. The analyst based his bullish projections on XRP’s recent price action and the Elliott Wave theory, a technical analysis tool that identifies predictable patterns in crypto prices and helps forecast market trends.
Zerpcrypto shared a 2-year XRP price chartfrom 2014 to the present; labeling wave counts from one to five for the larger cycles and sub-waves within these cycles. The analyst’s chart indicates that XRP is currently in the middle of Wave 3, signaling a potential upward move. Source: TradingView
With Wave 2 already complete, Zerpcrypto anticipates that Wave 3 could trigger a strong price rally, potentially propelling XRP to $7.4. After reaching the Wave 3 target, a minor pullback is expected in Wave 4, allowing the market to consolidate before XRP’s final big push upward into Wave 5. In this last wave, XRP could rise to $13.5 and potentially even surge as high as $27.4.
In addition to the Elliott Wave theory, Zerpcrypto‘s predictions are grounded in Fibonacci levels. The projected $7.4 and $13.5 XRP price targets align with the 4.236 and 8.618 Fibonacci extension levels respectively, reinforcing the analyst’s bullish outlook.
Zerpcrypto has also spotlighted a positive Moving Average Convergence Divergence (MACD)for XRP, further strengthening his confidence in the cryptocurrency’s projected $7.4 to $13.5 price target. Crypto Whales Buy 40 Million XRP
Despite XRP’s price dropto $2.25, a 13% decline over the past week, whales continue accumulating large amounts of tokens, viewing the price dips as a potential buying opportunity. Crypto analyst Ali Martinez revealedin a recent X (former Twitter) post that whales have bought another 40 million XRP in the last 24 hours. Related Reading XRP Price On Its Way To $10 In Only 3 Months If It Follows This Pattern 1 day ago Source: TradingView
A crypto community member has speculated that this large-scale purchasecould signal that whales may be positioning themselves for significant change in XRP. Typically, a surge in whale buying activity often suggests increased confidence in the bullish outlook of a cryptocurrency.
With XRP’s price surging over 4X from its previous low of $0.5 to surpass $2.2 in just two months, analysts are forecastingcontinued gains as the bull market gains momentum. Price struggles to bounce from crash | Source: XRPUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com