XRP Price Prediction: $3.82 ATH Possible After Successful Retest?
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Crypto analyst CasiTrades predicts a significant XRP price surge, potentially reaching its all-time high, based on Elliott Wave Theory. The recent price correction saw XRP briefly fall below $3.21 before rebounding from the $3.00 support level. This retracement, according to CasiTrades, marked the completion of Wave 2 in a bullish five-wave structure. The analyst highlights that the pullback reached a key 0.854 Fibonacci level, a common reversal point in such patterns. A sustained break above the $3.21 resistance is crucial for initiating Wave 3, which is typically the strongest and most explosive phase in the Elliott Wave theory. If this occurs, CasiTrades projects an immediate price target of $3.82, coinciding with the 2.618 Fibonacci extension and XRP's all-time high on some exchanges. This confluence of factors significantly boosts the bullish outlook. A complete Elliott Wave structure completion could propel XRP into unprecedented price territory. Currently, XRP is trading at approximately $3.20, reflecting a recent 5.52% increase over the past 24 hours, following a broader market correction which saw XRP decrease 6.74%. The analyst's prediction is contingent on the continued upward momentum and overcoming the $3.21 resistance level. Failure to do so could invalidate the bullish forecast. It's important to remember that Elliott Wave Theory is a technical analysis tool and not a foolproof prediction method; market conditions can always change.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-produces-successful-3-support-retest-but-what-next/)
