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The crypto analyst has set a bullish target between $7 and $13 for XRP pricebased 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 a new all-time high for the cryptocurrency.
XRP Price Guide To New ATHs
The price of XRP was at a rather long to strengthen the habitit halts its previous price momentum after hitting the $2.5 mark. Despite facing bearish conditions and falling to $2.2, crypto analyst at TradingView, ‘Zerpcrypto,’ shared a bullish forecast of the popular altcoin.
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According to the analyst, XRP can get a significant price increase between $7.4 to $13.5. The analyst based his bullish prediction on the recent price action of XRP and Elliott Wave Theorya technical analysis tool that identifies predictable patterns in crypto prices and helps forecast market trends.
Zerpcrypto shared 2 years XRP price chart from 2014 until now; Label waves count from one to five major cycles and sub-cycles. The analyst’s chart shows that XRP is currently in the middle of Wave 3, which shows a to the maximum possible.
With Wave 2 is already completeZerpcrypto expects that Wave 3 can cause a strong price rally, which may push XRP to $7.4. After reaching the target of Wave 3, a small pullback is expected in Wave 4, allowing the market to consolidate before the final big push of XRP higher in Wave 5. In this final wave, XRP may rise to $13.5 and possibly higher up to $27.4.
In addition to Elliott Wave theory, Zerpcrypto predictions are based on it Fibonacci levels. XRP’s $7.4 price target and $13.5 target are in line with the Fibonacci extension levels of 4.236 and 8.618 respectively, which reinforces the analyst’s view.
Zerpcrypto has also revealed positives Moving Average Convergence Divergence (MACD) for XRP, further strengthening his confidence cryptocurrency’s $7.4 to $13.5 price target.
Crypto Whales Buy 40 Million XRP
Anyway XRP exchange to $ 2,25, a decrease of 13% during the last week, the whales continue to accumulate a large number of tokens, considering the collapse of the price as a possible buying opportunity. Crypto analyst Ali Martinez it was revealed in the latest X (formerly Twitter) post that whales bought another 40 million XRP in the last 24 hours.
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A member of the crypto community has it considered that this buying on a large scale it may indicate that the whales may be positioning themselves for a significant change in XRP. In general, increased whaling activity generally suggests more confidence bullish outlook for cryptocurrency.
As the price of XRP increased more than 4X from its previous low of $0.5 to exceed $2.2 in just two months, analysts prediction continued gains as the bull market gained momentum.
The featured image was created with Dall.E, a chart from Tradingview.com
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