XRP Price Targets Set at $8.40 and $27 According to Analysts
XRP's price has seen significant movement, surpassing $2.60 for the first time since early March. This rise aligns with an upward trend anticipated by analysts using Fibonacci levels.
Key Points
- XRP reached $2.61 in the last 24 hours.
- Analysts predict potential targets of $8.40 and $27 based on Fibonacci extensions.
- The current price structure shows a breakout from a multi-year wedge formation.
- This breakout marks the end of a prolonged bear market and initiates a bullish phase.
- In 2017, XRP similarly reached Fibonacci extension targets after breaking out of a wedge.
- The current price action is viewed as forming the fifth impulse wave since 2020.
- XRP's trading volume and market conditions are more complex than in previous rallies.
Currently, XRP is trading at $2.50, up 3.4% in the past 24 hours.
