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Crypto analyst XForcehas again alluded to the 5-Wave count to show when the XRP Price is likely to hit a new all-time high (ATH) above $5. As part of his analysis, the analyst also declared that there is no reason to be bearish on the altcoin at the moment. XRP To Rally Above $5 Based On 5-Wave Count
In an X post, XForce shared an accompanying chart that showed that XRP could rally above $5 on the Wave 3 impulsive move to the upside. The altcoin could even rally to double digitsand touch $13 on this move. The chart also showed that XRP will reach this target by year-end or early next year. Related Reading XRP To End 7-Month Consolidation After 700% Surge – Is A Major Move Coming? 2 days ago
Based on the 5-Wave count, XRP will then witness a price correction to around $5 on Wave 4 before it then rallies to around $25 on Wave 5, an impulsive move to the upside. XForce is confident that the current price action is going according to plan. He noted that the macro direction was met with very little margin of error. Source: XForce on X
Furthermore, the crypto analyst remarked that everything from the Wave 4 triangle breakout to the anticipated 1 to 2 pullback following the 5-wave impulse followed the blueprint. In line with this, he declared that there is no valid reason to adopt a bearish stance unless the market invalidates the bullish case for XRP.
XForce also affirmed that XRP is within the bounds of the same two scenarios but that the ultra-bullish scenario of a rally to double digits is gaining more credibility by the day. The more conservative scenario for the altcoin is a rally to $4, which could still mark a new all-time high for XRP. The analyst earlier declaredthat all scenarios on the medium timeframe still show the altcoin reaching a new ATH in this market cycle. XRP Consolidation Has Reached Its Peak
In an X post, crypto analyst CasiTrades stated that the XRP consolidationhas finally reached its apex and that something big is coming next. She remarked that the altcoin could either record an explosive breakout or see one final sharp drop to support that ignites a breakout. Either way, XRP looks likely to rally to the upside soon. Related Reading XRP 5-Wave Count Shows When The Price Will Hit All-Time Highs Above $5 9 hours ago
CasiTradesstated that the XRP price continues to struggle with the $2.25 level. As long as this level remains resistance, she claimed that it increases the likelihood of the altcoin dropping to support levels at $2.01, $1.90, and even $1.55. However, the analyst declared that these aren’t bearish targets but momentum zones, where the market grabs the liquidity it needs to build momentum for Wave 3.
At the time of writing, the XRP price is trading at around $2.16, down in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $2.16 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com