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One cryptocurrency analyst set an ambitious target of between $7 and $13 for Ripple priceHe based his predictions on Elliott Wave Theory and Fibonacci levels. According to the analyst’s price chart, waves 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 price of XRP was on A fairly long consolidation trendand halted the previous price momentum after it reached the $2.5 mark. Despite facing bearish trends and falling to $2.2, TradingView cryptocurrency analyst, “Zerpcrypto,” subscriber A Bullish outlook For the popular alternative currency.
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According to the analyst, XRP may face a trial Significant price increase Between $7.4 to $13.5. The analyst based his bullish forecast on XRP’s recent price movement and Elliot wave theorya technical analysis tool that identifies predictable patterns in cryptocurrency prices and helps predict market trends.
Zerpcrypto has been shared for 2 years XRP price chart From 2014 to the present; Wave numbers from one to five are labeled for larger cycles and sub-waves within these cycles. The analyst chart indicates that XRP is currently in the middle of wave 3, indicating a… Potential upward move.
with Wave 2 is already completedZerpcrypto predicts that wave 3 could lead to a strong price rally, which could push XRP to $7.4. After reaching the wave 3 target, a slight pullback is expected in wave 4, allowing the market to consolidate before the final big push of XRP up into wave 5. In this final wave, XRP could rise to $13.5 and possibly rise to $27.4.
In addition to the Elliott Wave Theory, Zerpcrypto’s predictions are based on this foundation Fibonacci levels. Expected XRP price targets of $7.4 and $13.5 align with the 4.236 and 8.618 Fibonacci extension levels respectively, reinforcing the analyst’s bullish outlook.
Zerpcrypto has also highlighted the positive side Moving Average Convergence and Divergence (MACD) For XRP, which reinforces his confidence in the expected target price for the cryptocurrency, which ranges from $7.4 to $13.5.
Crypto whales buy 40 million XRP
Although XRP prices drop to $2.25, down 13% over the past week. Whales continue to accumulate large amounts of the token, viewing price drops as a potential buying opportunity. Cryptocurrency analyst Ali Martinez open In a recent X (previous Twitter) post, whales bought another 40 million XRP in the past 24 hours.
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A member of his crypto community forecast That this Buy on a large scale This could indicate that whales may be preparing for a major change in XRP. A spike in whale buying activity usually indicates increased confidence in whales The bullish outlook for cryptocurrency.
With the price of XRP more than 4x from its previous low of $0.5 to exceed $2.2 in just two months, analysts Prediction Gains continue as bull market gains momentum.
Featured image created with Dall.E, chart from Tradingview.com
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