XRP Price Prediction: $8.5? Analyst Sees Explosive Rally
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A bullish outlook for XRP has emerged, with analyst Paul Webborn predicting a potential price surge to $8.5 based on Elliott Wave Theory. His analysis suggests XRP is entering a powerful impulse wave, following the completion of waves A and B. The current wave C is unfolding in five intermediate waves, with the final wave 5 expected to propel XRP towards $8-$10. Webborn's chart illustrates this progression, showing that intermediate waves 1-4 appear complete, and minor wave 3 could push XRP to $5-$6. However, this forecast hinges on XRP maintaining support above $1.90. A drop below this level could invalidate the bullish structure, potentially leading to a significant price decline towards $0.287. Currently, XRP shows strength above $2, with a positive market sentiment reflected in a Fear and Greed Index of 64. While the timeline remains unspecified, Webborn anticipates explosive growth in the coming months. This prediction is based on technical analysis and should be considered speculative. The analysis highlights the potential for substantial gains, but also emphasizes the risk of significant losses if the key support level is breached. The prediction relies heavily on the Elliott Wave Theory, which is not without its critics and limitations. Investors should conduct their own thorough research before making any investment decisions. Note that this forecast involves considerable risk and is not financial advice.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-roadmap-to-8-5/)
