Analyst Predicts XRP Could Reach $110 Amid Market Fluctuations

Ripple's XRP is currently trading between $2.15 and $2.30, significantly lower than its 52-week high of $3.38 reached on January 17. Despite the overall downtrend in the crypto market, some analysts predict a potential rally for XRP.

XRP Price Analysis

Egrag Crypto suggests XRP's current Elliot Wave structure indicates a possible price increase.
The token remains above the crucial $2 support level, aligning with the Elliott Wave chart patterns.
XRP is acknowledged to be in the second wave phase, characterized by high volatility and corrections.

Future Projections

Egrag forecasts a potential surge to double digits or over $100 as XRP moves into the next phases of the Elliot Wave cycle.
A previous Wave 1 pattern saw a 733% price increase, indicating significant upside potential.
Wave 3 could extend gains up to 1,185%, predicting a price range of $22 to $24.
Subsequent corrections after Wave 3 may lead XRP back to around $8.
Wave 5 projections suggest potential prices between $32 to $48, $60 to $70, or even reaching $100 depending on various factors.