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XRP’s price is now looking to break above $2.20 again after inching a few moves upwards in the past 24 hours. Notably, the cryptocurrency’s price action has seen a volatile movement over the past week. After briefly rallying above $2.65 earlier in May, XRP failed to sustain its momentum, instead trending downwardsuntil it rebounded at $2.10 on the last day of May.
Amid this backdrop of price action, there have been discussions around the timing for the nextmajor price movement for XRP. A fresh outlook by a crypto analyst suggests XRP investors should pay attention to June 3 to June 6. Crypto Analyst Predicts Timeline For XRP Bottom And Breakout
A crypto analyst known pseudonymously as WatersAbove has drawn attention to specific calendar datesthat could play important roles in XRP’s short-term and long-term price trajectories. Taking to the social media platform X to share his outlook, the analyst suggested that June 4th to 6th could mark the bottom for XRP before there is any significant upside. Related Reading Wave Count Analysis Reveals The XRP Price Trigger Point For Take-Off 1 day ago
However, aside from this bottom, what’s more important is the potential price manipulation that could take place within this period. According to the crypto analyst, this particular window between June 3 and June 6 will likely be characterized by market manipulation, as larger players may be attempting to shake out weak hands ahead of a more decisive rally. “In the meantime, watch out for this week ahead,” the analyst said.
Although WatersAbove did not accompany the prediction with any technical chart, the confidence in his tone resonates among XRP investors who are closely watching these dates for signals of a bottom, as shown in the post’s comments. Straight Line Breakout To $10 For XRP
What made the analyst’s prediction even more interesting was the projected price target and timing after the manipulation is over. According to the analyst, XRP could be on a straight-line trajectory to $10 by late July or early August, nearly a 5x move from current levels. This kind of breakout, if it occurs, would mirror XRP’s explosive run in Q4 2024and also back in 2018. However, this time would require much more inflows that can be gotten from institutional backing. Related Reading XRP Price Consolidates In Tight Bullish Compression Pattern, Why $5 Is Possible 1 week ago
Interestingly, the analyst’s prediction is that the rally will start sometime around June 18 in a straight-line breakout manner. Although the prediction is bold, it’s not the first time such a target has been floated by long-time XRP supporters.
According to a similar analysis byEGRAG CRYPTO, XRP is on the verge of a breakout to double digits in the coming months. Crypto analyst Dark Defender also highlighted a new wave structure that could send the XRP price towardsthe $18.22 to $23.20 price range in the short term. On the other hand, crypto analysts like Dr Cat (@DoctorCatX) are less bullish. Notably, the analyst’s technical analysis suggests that any bull run for XRP might be delayed until November 2025.
At the time of writing, XRP is trading at $2.20, up by 1.63% in the past 24 hours. A surge to the analyst’s $10 price target would translate to a 350% increase from the current price. XRP trading at $2.18 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com