Korean Analyst Predicts XRP Price Could Reach $10 to $20 Soon

A financial analyst known as XForceGlobal predicts that XRP could reach between $10 and $20 in the coming months, despite its current price of $2.07 amid a broader cryptocurrency market downturn.

XRP's Relative Strength in a Declining Market

XRP has dropped over 5% recently, outpacing declines of over 40% in major cryptocurrencies like Ethereum.
Other cryptocurrencies such as Solana and Dogecoin have also seen significant losses of 45% to 65% from their peaks.
XForceGlobal notes XRP's stability compared to these declines as a basis for his optimistic outlook.

Technical Analysis Insight

XForceGlobal employs Elliott Wave theory, predicting a 5-wave pattern for XRP's movement.
His forecast suggests XRP could hit $20 to $40 within this or next year.
For XRP to reach $10, it would require a 370% increase; a jump to $20 necessitates an 850% rise.
Such price levels would imply market capitalizations of $1 trillion and $2 trillion, raising skepticism among analysts.

Increasing Trading Interest

CoinGlass reports a rise in open interest on XRP trades, now at $3.60 billion.
This indicates traders are entering positions regardless of market trends.

XForceGlobal did not specify a timeline for his price prediction, stating it may take time for XRP to reach the projected levels. With XRP's year-to-date gains at just 0.80%, the viability of these predictions remains uncertain.