- XRP could surge to $20-$66 as per Elliott Wave analysis, signaling a bullish trend that excites traders and investors alike.
- Unlike speculation, this prediction follows mathematical models and real price trends, defining levels systematically and sequentially.
- Wave 3 could drive XRP up by 800%-1000% to $17-$20, with Wave 5 potentially pushing it further to $44 or even $66 based on projections.
Egrag has come up with a new XRP price prediction through the Elliott Wave Theory. Based on his analysis, the price of XRP could potentially surge as high as $20-$66 that would excite many investors and traders. In contrast to the forecasting, the analysis is performed according to the mathematical models and the real price trends. Based on the Elliott Wave Theory, he defines price levels in a systematic and sequential manner.
XRP Elliott Wave Analysis
The uptrend from Wave 1 marked the starting point to a strong and steep rise, which saw the prices soar by 510%. It is from this initial wave that forecasts calculations of future prices are generated. This strength indeed gives a ride on how subsequent phases of the cycle should be considered.
Wave 2 is currently in progress, and it is a crucial stage in the Elliott wave model. Egrag believes that this correction is based on an expanded or irregular flat formation which is provided further by the fact that Wave B has gone above the start off Wave A. This corrective wave structure makes it reasonably difficult to forecast since much depends on the price action.
Another resulting element of unpredictable character, which can form from an expanding symmetric triangle, is more distinct from the preceding one. This pattern is quite difficult to detect in the early stages since both trendlines are still getting wider apart. The analyst believes that wave E could possibly fall below $1.77 to form a bear trap to clean the weaker longs.
However, before this decline, XRP can reach the range of $3.7 to $3.9 creating a bull trap before the final drop. It could even mean a correction of over 50% and this will be one of the largest corrections before the beginning of the next bullish run.
Wave 3 is normally the longest, the most forceful and the most impulsive Elliott wave and it should bring a significant rise in prices. According to Elliott Wave Theory, Wave 3 moves in a direction of 1.618 times that of Wave 1. Specifically, based on the growth of 510% in Wave 1, Egrag expects that Wave 3 could increase the price of XRP by 800% – 1000%, which puts the price between $17 and $20.
Wave 4 is viewed as a consolidation phase that marks a temporary trend reversal. Usually, this phase leads to a pullback in the value range between 14.6% and 38.2% of the advance in wave 3. The consolidation period is similar to a training period because at times price movements are stagnant before recording massive upward movements. Combining all the factors together, Wave ‘s Egrag has predicted that the XRP price might be ranging within $6 to $7 before the beginning of Wave 5.
Wave 5 is expected to be the last major expansion, or surge, in this wave cycle. In this phase the sentiment is positive and indeed takes the price higher but less so as compared to what happens in Wave 3. Volume falls, and often, even momentum indicators may point to divergences, which act as a sign of a top.
XRP Potential Price Targets
Egrag has identified multiple potential targets for XRP as per the Wave 5 based on several analytical models. A conservative volume is $20 to $29 for Ripple, while the_headers= multiplication by 510%, Wave 2 could take it as high as $44. A more aggressive projection which is an extension of Wave 1 and Wave 3 by 61.8% indicates the possibility of a high of $66. As of writing, XRP is trading at $2.26, showing a 2.26% increase over the past day.
These projections give a view that it may skyrocket, although the market trend will be destiny’s determining aspect for XRP. Investors are advised to pay attention to the completion of wave E and the following breakout before making major trading moves. According to this Elliott wave pattern, XRP is at a critical juncture where it is likely to have a huge rally in the coming months.