Will $XRP Price Hit $24-$31?
XRP price could rise to between $24 and $31 based on his Elliot Wave analysis. This bullish outlook is based on the assumption that XRP is already on its macro Wave 5.
Key Highlights:
XRP price could rise to between $24 and $31 based on Egrag Crypto's Elliot Wave analysis.
The analyst predicts that XRP could even surge to as high as $40.
Another analyst believes that XRP is only just about to enjoy its Wave 3 rally to the upside.
XRP could rise to $1,780 in the long term, based on the XRP price soaring to Fib 4.272, just like Ethereum
Analysis:
Wave 5 typically spans between 1.236 and 1.618% of Wave 4, matches Wave 1, or reaches 61.8% of the combined length of Wave 1 and 3. These scenarios push the XRP price beyond the Fibonacci 3 level, $33. Therefore, the altcoin can reach $31 and rise higher.
Comparison to Bitcoin and Ethereum:
Egrag compared XRP to Bitcoin and Ethereum to prove that the altcoin's potential is on "another level" and that the double-digit target is confirmed. He noted that BTC hit Fib 3 and is now struggling to close three monthly candles above it. In line with this, Egrag claimed that XRP hitting the Fib 3 is "absolutely" within reach in this cycle if the altcoin is in its macro Wave 5.
Contrasting Views:
However, another analyst behind the MCO YouTube channel has indicated that XRP isn't yet in Wave 5. Instead, his Elliott Wave chart analysis showed that Wave 3 is still forming and that the impulsive move leading to the breakout is yet to happen.
Long-term Prediction:
Egrag also drew the XRP community's attention to the bigger picture, predicting that the crypto could rise to as high as $1,780 in the long term. This prediction is based on the XRP price soaring to Fib 4.272, just like Ethereum.
What do you think about prediction? Will XRP price hit $24-$31?
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