XRP Price Could Reach $6–$11 If It Stays Above $2.68
XRP Price Analysis
- Caleb Franzen, founder of Cubic Analytics, suggests XRP is in a crucial phase with potential price targets between $6–$11.
- Key risk line at $2.68; maintaining above this level could lead to higher prices.
- Franzen uses price structure and statistical signals, focusing on trend integrity and Fibonacci extension targets.
- Consolidation leg targets: 161.8% extension near $4.40 and 261.8% extension around $6.
- Larger Q1 swing targets: approximately $5.40 and $11.55.
- Risk management includes a clear invalidation level below $2.68 for adjusting exposure.
The Macro Perspective
- Franzen emphasizes macro conditions that support risk assets without needing a weak US dollar.
- Indicators include Q2 GDP growth at 3.8%, low unemployment, rising labor force participation, and strong wage growth.
- Credit market signals show tight spreads and high-yield corporates performing well.
- US Dollar Index has been flat since mid-April, yet Bitcoin and broader crypto have risen.
- Global currency basket shows Bitcoin making all-time highs, indicating weak global fiat currencies.
- XRP's price structure may benefit if the liquidity and risk backdrop remains favorable.
Current XRP trading price: $2.8593.
