XRP Price Prediction: Breakout to $3 or Beyond?
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Analysts predict a significant XRP price surge, potentially reaching $3 or even higher. Charting Prodigy's Elliott Wave and Wyckoff analysis identifies $2.56 as a crucial trigger point. A breakout above this level could initiate a rapid price increase, driven by the completion of a powerful wave cycle (sub-wave 3 of Macro Wave 5) and a confirmed Wyckoff reaccumulation pattern. The analysis points to key phases like Preliminary Support (PSY), Automatic Rally (AR), Secondary Test (ST), and Last Point of Support (LPS), all suggesting a transition into a parabolic markup phase. Fibonacci extension targets and a bullish divergence on the MACD further reinforce the bullish outlook. Meanwhile, Egrag Crypto presents a more ambitious forecast, suggesting a potential double-digit surge in the coming weeks, targeting $10, $18, $27, and even $55. This prediction is based on a long-standing macro ascending channel since 2016 and a decisive move above the 21-week moving average. The analyst emphasizes the importance of the lower trendline and the 21 EMA remaining intact to sustain the bullish trend. Both analyses highlight the potential for substantial gains, but caution is advised as these are predictions based on technical analysis and past patterns, which are not guarantees of future performance. Investors should conduct their own research and consider the inherent risks involved in cryptocurrency investments before making any decisions.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-trigger-point-for-take-off/)
