XRP Price Predicted to Reach $5.85 in Coming Week
A crypto analyst predicts a potential surge for XRP to $5.85 based on the Elliott Wave Theory and technical indicators. The analysis indicates that XRP could break out of a symmetrical triangle pattern, leading to a significant price increase.
XRP Price Analysis
- Current structure suggests an established Wave 3 targeting $5.85, marking a 261.8% increase.
- Wave 5 could eventually lead to a price target of $18.22, indicating a 361.8% rise.
- A breakout from the symmetrical triangle is expected within the next 16 to 20 hours.
- XRP has confirmed support after retesting the breakeven line towards the $2.4 resistance level.
- Primary target set at $5.85; secondary goal at $4.55.
Current Market Performance
- XRP recently declined by 10.3%, dropping from over $3 to $2.8 in the past 24 hours.
- Last week saw a 14% decrease due to bearish market pressure.
- Despite recent declines, analysts maintain bullish sentiment for future price rallies.
