Forget The Dip! XRP Primed For Epic Rally To $36, Expert Claims

Name	Symbol	Market	Market Cap ($)	Algorithm
Mina	MINAUSD	Crypto	557,832,369	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Mina

MINAUSD

Crypto

557,832,369

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.002	-0.38%	0.526	0.526	0.528

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.002

-0.38%

0.526

0.528

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.534	0.523	0.530	0.528	0.349000 - 1.73

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.534

0.523

0.530

0.528

0.349000 - 1.73

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:05:27	2,015.60	0.526	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:05:27

2,015.60

0.526

USD

Price x Volume	Volume	Base Symbol	Related Pairs
28,885.94	54,619.20	MINA	MINAEUR	MINAGBP	MINABTC

Price x Volume

Volume

Base Symbol

Related Pairs

28,885.94

54,619.20

Forget The Dip! XRP Primed For Epic Rally To $36, Expert Claims

23/06/2024 4:30pm

NEWSBTC

The price of XRP, the native token of RippleNet, has been caught in the crosshairs of a bearish crypto market. Currently trading below the crucial $0.50 mark, XRP seems to be following the broader market trend. However, a recent analysis by market analyst Tylie Eric throws a glimmer of hope for XRP holders, predicting a potential price surge based on a technical indicator. Related Reading: Toncoin Transfer Volume Hits $10 Billion, Social Appeal Soars Understanding Elliott Wave Theory Eric argues that XRP’s price movements might be following a historical pattern known as the Elliott Wave theory. This theory proposes that market trends unfold in a specific five-wave structure, with each wave representing a distinct phase in the price cycle. According to Eric, XRP has exhibited this five-wave structure on multiple occasions in the past on its weekly chart. Notably, each time this pattern materialized, the fifth and final wave culminated in a significant price increase. #XRP. BEAT BY BEAT I think XRP has ticked all the boxes and held all requirements to continue with wave 3 of wave 5, Same way it did in 2017! pic.twitter.com/qqexAC7b1X — Tylie E (@TylieEric) June 20, 2024 Eric cites the example of early 2017, where the completion of the fifth wave triggered a surge that propelled XRP to a high of $0.39, a staggering 7,700% increase. This upswing was followed by a brief consolidation period before another decisive rally to $3.30. A Potential Fifth Wave? Building on this historical precedent, Eric believes XRP is nearing the conclusion of another five-wave structure that began its formation after the 2017 price drop. His analysis suggests that all four preceding waves have unfolded over the past six years, paving the way for a potential fifth wave that could mirror the dramatic rise witnessed in 2017. Eric’s audacious prediction hinges on the assumption that the fifth wave will again translate to a substantial price increase. His chart projects a potential upsurge of a staggering 7,630%, which would propel XRP to a price target of a phenomenal $36. This prediction aligns with forecasts from other analysts like CryptoInsightUK, who projected an XRP price surge to $34 last September. Related Reading: Don’t Miss The Floki FOMO: Social Media Sends Meme Coin On 300% Rip Long Way Ahead Eric’s prediction hinges on the completion of the Elliott Wave structure, a technical theory that remains a subject of debate among financial experts. Furthermore, the $36 price target appears highly ambitious. It’s important to remember that achieving such a price point would require XRP to surpass the current market capitalization of all cryptocurrencies combined. Featured image from Getty Images, chart from TradingView

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