A cryptocurrency analyst has set an ambitious target of between $7 and $13 XRP pricehis predictions are based on Elliott wave theory and Fibonacci levels. According to this analyst's price chart, waves 2 and 5 could push XRP to these key targets and set new record highs for the cryptocurrency.
XRP price roadmap to new ATHs
The price of XRP has been at one Relatively long stabilization processstopped its previous price movement after reaching the $2.5 level. Despite facing bearish trends and falling to $2.2, a crypto analyst on TradingView, 'Zerpcrypto', has been shared A Bullish forecast For popular altcoins
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According to this analyst, XRP can experience a Significant price increase Between $7.4 and $13.5 this analyst has bullish predictions based on recent XRP price action and price Elliott wave theoryis a technical analysis tool that identifies predictable patterns in crypto prices and helps predict market trends.
Zerpcrypto shared 2 years XRP price chart From 2014 until now; Wave labeling for cycles and larger sub-waves within these cycles are numbered from one to five. The analyst chart shows that XRP is currently in the middle of wave 3, showing a signal Potential upward movement.
with Wave 2 is now completeZerpcrypto predicts that Wave 3 could trigger a strong price rally, potentially pushing XRP to $7.4. After reaching the Wave 3 target, a slight pullback is expected in Wave 4, allowing the market to stabilize before XRP's final big push into Wave 5. In this last wave, XRP could rise to $13.5 and potentially even up to $27.4.
In addition to Elliott wave theory, Zerpcrypto predictions are also based Fibonacci levels. The projected $7.4 and $13.5 XRP price targets correspond to the 4.236 and 8.618 Fibonacci retracement levels, respectively, reinforcing the analyst's bullish outlook.
Zerpcrypto has also highlighted a positive point Moving Average Convergence Divergence (MACD) For XRP, his confidence further bolstered the cryptocurrency's projected price target of $7.4-$13.5.
Crypto whales buy 40 million XRP
despite XRP price drop At $2.25, down 13% in the past week, whales continue to accumulate large amounts of the token, viewing the price drop as a potential buying opportunity. Ali Martinez, cryptocurrency analyst revealed In a recent post by X (ex-twitter) that whales bought another 40 million XRP in the last 24 hours.
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A member of the crypto community has guessed that this Large scale purchase It could indicate that the whales may be positioning themselves for a significant change in XRP. Typically, increased whaling activity often indicates increased trust in whaling The bullish outlook of a digital currency.
With the XRP price more than quadrupling from its previous low of $0.50 to over $2.20 in just two months, analysts prediction As the bull market gained momentum, it continued to grow.
Featured image created with Dall.E, chart from Tradingview.com
