XRP can skyrocket to the $6 price level if the Elliott Wave Theory holds true.
XRP is undergoing a correctional phase which will be over soon, as per an analyst.
The altcoin has surged 3% in the 24 hours and eyes $2.5.
XRP, the fourth-largest cryptocurrency in the digital asset space, is expected to carve its bullish path towards the $6 price level during a broader market meltdown. The altcoin rose 3.16% in the past 24 hours and trades at $2.35. It now aims for the third position in the market (held by USDT) with a valuation of $133 billion.
In a post on X (formerly Twitter), crypto analyst “CryptoBull2020” highlighted that XRP could reach $6 as the digital asset is almost finished with its correctional pattern. The analyst predicts a surge soon because the launch of RLUSD stablecoin fuels enthusiasm around the cryptocurrency.
Elliott Wave Theory and XRP’s Fifth Wave
The Elliott Wave Theory used by CryptoBull2020 aligns with XRP’s price movement. The fifth wave often marks a breakout and tends to be the most bullish stage, while the other waves boost momentum. During this phase, any pullbacks are short-lived, which appears to match the curren…
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