A prominent crypto analyst indicates that XRP may be on the verge of entering the fifth wave (Wave 5) of the Elliott cycle, which could push the price above $6.00. This prediction comes despite the horizontal consolidation phase the price is currently undergoing, where it has not yet managed to break the strong resistance.
The analysis is based on the classic market movement pattern, where the fifth wave is typically the last thrust phase before a significant correction, currently supported by signals from the RSI and MACD indicators that show readiness for a strong upward movement.
Analysts believe that the return of momentum and the increase in trading volumes could be the spark that XRP needs to break through the resistance and take off towards new levels. If this trend is confirmed, we may witness one of the strongest upward waves in the currency's history.
Are we on the brink of a price explosion? Anticipation dominates the scene, and investors are on standby for what could be a decisive move in the coming period.
