XRP Price Target Set Between $7 and $13 Based on Elliott Wave Theory
A crypto analyst has set a target range of $7 to $13 for the XRP price, utilizing the Elliott Wave theory and Fibonacci levels. Predictions indicate that Waves 2 and 5 could elevate XRP to these levels, potentially achieving new all-time highs.
XRP Price Roadmap To New ATHs
The XRP price has experienced a lengthy consolidation trend after reaching $2.5. Following a drop to $2.2, TradingView analyst ‘Zerpcrypto’ shared a bullish forecast for XRP.
Zerpcrypto anticipates a significant price increase for XRP, estimating a rise between $7.4 and $13.5 based on recent price action and the Elliott Wave theory, which identifies patterns in market trends.
The analyst presented a two-year XRP price chart from 2014 to the present, illustrating wave counts within larger cycles. The current position within Wave 3 suggests potential upward momentum.
With Wave 2 complete, Zerpcrypto expects Wave 3 to initiate a strong rally, possibly pushing XRP to $7.4. A minor pullback in Wave 4 would allow consolidation before a final push into Wave 5, where XRP could reach $13.5 or even $27.4.
Zerpcrypto's predictions are further supported by Fibonacci levels, aligning the projected targets of $7.4 and $13.5 with the 4.236 and 8.618 extension levels, respectively. Additionally, a positive Moving Average Convergence Divergence (MACD) signal reinforces confidence in this outlook.
Crypto Whales Buy 40 Million XRP
Despite XRP’s recent decline to $2.25, a 13% drop over the past week, large investors continue to accumulate tokens, viewing price dips as buying opportunities. Analyst Ali Martinez reported that whales purchased an additional 40 million XRP within 24 hours.
A community member speculated that this large-scale purchase may indicate whales positioning themselves for significant changes in XRP, as increased whale activity often reflects confidence in a cryptocurrency's bullish outlook.
With XRP's price rising over four times from its low of $0.5 to surpass $2.2 in just two months, analysts predict continued gains as the bull market strengthens.
