An Expansion of XRP to Reach $5
A crypto specialist predicts XRP will jump to $5 next week. The Elliott Wave Theory and other technical indicators suggest XRP might rise significantly after breaking out of a symmetrical triangular configuration.
The price of XRP reached a record $5. The analyst posted a graphic showing a five-wave Elliott Wave pattern in an upward trend.
XRP could hit $5
Elliott Wave theory predicts cyclical price movements, with Wave 3 being the strongest and most explosive. Wave 5 is the concluding leg of an upswing, whereas Wave 4 is a corrective phase.
Since August 2023, XRP Elliott Wave 3 has targeted $5.85, its all-time high. This price jump was 261.8%, a major change in the new week.
Wave 5, the last Elliott wave cycle, indicates to $18.22 when the $5.85 objective is met. XRP would reach a remarkable 361.8% rise at this level.
The expert expects XRP's breakthrough within 16 to 20 hours after his research because to this unusual technical configuration.
The triangle pattern breakout should match the uptrend. After breaking over the breakeven line approaching the $2.4 resistance level, the green circle on the chart suggests that XRP has retested and confirmed support. The expert expects a surge to $5.85 and $4.55 after this move.
XRP Falls 10% in One Day
Due to its strong performance this year, the crypto market is positive on XRP, but the cryptocurrency is struggling to breach critical resistance levels.
CoinMarketCap reports that XRP has fallen from over $3 to $2.8. The cryptocurrency fell 10.3% in 24 hours following a 14% decrease last week due to negative pressure.
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