Top analyst CrediBULL Crypto, with over 400k followers, revealed on X (formerly Twitter) a bullish outlook on Ripple’s XRP, highlighting a clean and optimistic structure on the higher timeframe charts. The analyst’s perspective emphasizes that the current price movement, despite short-term noise, aligns with a larger upward trajectory.
CrediBULL Crypto explained the rationale behind the bullish outlook, pointing out that XRP’s price structure remains consistent with impulsive market phases. The analyst urged long-term holders to focus on the broader picture, suggesting XRP is still in the early stages of its upward movement.
XRP Price Chart Analysis
The chart analysis reveals a clear Elliott Wave structure, which indicates XRP’s price may be forming a bullish impulsive phase. The first upward move, labeled as Wave 1 ($1.55.), was followed by a corrective consolidation phase, likely representing Wave 2 ($1.27). Analysts suggest that the next projected movement, Wave 3 ($9.00), could bring a substantial price surge.
Wave 3 is typically the strongest phase in Elliott Wave theory, often leading to significant price increases. After this, a smaller correction (Wave 4) and a final upward leg (Wave 5) are anticipated. The XRP price chart also highlights support zones based on Fibonacci retracement levels, with $0.627 and $0.577 identified as areas where buyers may step in.
Image Source: X/CrediBullCrypto Chart Structure and Bullish Patterns
The analyst’s chart includes bullish indicators such as ascending projections and triangle patterns. These formations suggest the current price action is consolidative and could resolve to the upside. The correction phase resembles a bull flag or triangle, which are continuation patterns often seen during bullish trends.
The “origin of the impulse,” located near $0.50, serves as a key level for maintaining the bullish thesis. Analysts believe holding above this level confirms the trend’s strength and potential for further gains.
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Support and Resistance Levels to Watch
Key resistance levels on the chart lie between $0.80 and $0.85, representing the previous swing high. This area could act as a hurdle for upward momentum but breaking through would confirm the bullish sentiment.
On the support side, the Fibonacci retracement zones align with the lower consolidation range, marking potential demand areas. These levels play a role in maintaining a bullish market structure and attracting buyers.
CrediBULL Crypto emphasized that lower timeframe volatility is irrelevant for long-term holders, as the broader structure remains optimistic. The tweet reiterated that time and price targets are approximate, serving as a guide rather than a prediction.
The analysis supports the view that XRP’s price remains in the early stages of a bullish cycle. For investors focused on the long term, the current corrective phase could provide an opportunity before the next major upward move.
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The post Crypto Expert Calls This XRP Chart ‘Insanely Bullish’ – Here’s Why XRP Price Could Surge Soon appeared first on CaptainAltcoin.
