Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.
The XRP price has been consolidatingfor an extended period after its previous rally. However, a crypto analyst warns that the cryptocurrency could face a flash crashin April, potentially driving its price to new lows. Despite this, the analyst anticipated that the downturn may be short-lived, predicting a rebound shortly after.
MetaShackle, a crypto analyst on TradingView, has shared a chart presenting an Elliott Wave-based analysisof XRP’s price movements. The analyst has also used technical levels such as Fair Value Gaps (FVGs), liquidity zones, and trendlines to determine XRP’s next price action. XRP Price False Breakout Ahead Of Flash Crash According to MetaShackle’s analysis, XRP may be heading for a false breakoutin the coming weeks, followed by a sudden flash crash that could liquidate overleveraged traders. While this deep correction could shake out weak hands, the analyst also outlines a path for a massive rally later in the Second Quarter (Q2) of 2025, potentially pushing XRP to a new all-time high. Related Reading XRP Price Continuation After Crash Below $2.4? New Targets Emerge 3 weeks ago
The XRP price chart follows an advanced 6-wave pattern, with a potential 7th-wave breakout. XRP is currently in Wave 4 of a larger cycle. While Waves 1 to 3 represented a strong upward move, Wave 4 triggered a major correction for the XRP price. If Wave 4 is completed, the cryptocurrency’s price could push higher into Wave 5, reaching $2.80 – $3.00, where an FVG awaits. This move would create a false breakout, taking out liquidity above recent highs. Source: MetaShackle on Tradingview
After the projected false breakout, XRP is expected to experience a flash crash in Wave 6 by April 2025. This flash crash will likely hold above the lower white trendline after breaking the upper trendline and targeting the green target area between $1.6 and $1.4 $highlighted by the chart.
The flash crash in April is a theoretical move in which the XRP price retraces sharply before a real breakout. This breakout is expected to start in Wave 7, potentially leading to a price discoveryfor XRP and reaching a likely target of $3.00 before skyrocketing to new highs above $3.6.
Notably, the analyst predicts that Wave 7 will begin in May 2025. The breakout is anticipated to take out previous all-time highs for the altcoin, surpassing its $3.84 price recordin 2018. Update On Price Analysis
The XRP price is now trading at $2.44 after increasing by 4.56% in the past week. Despite a sharp price crashfrom its $3.00 high earlier this year, the cryptocurrency remains resilient, and analysts are closely watching its next move. Related Reading XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go 8 hours ago
Notably, analysts continue to take a bullish stance on the XRP price outlook, predicting a potential breakout in the short term. An X (formerly Twitter) market expert, identified as ‘Steph Is Crypto,’ forecaststhat the asset could surge to $3.4 soon, marking a 39.34% jump from its market price. XRP trading at $2.4 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com