Price forecast for $XRP :
Analyst under the nickname XForceGlobal predicts that the price of XRP could reach $20 in the current cycle. This is despite a recent drop of nearly 18% after updating the historical high of $3.65.
Two scenarios for development:
Scenario 1: The current correction is a "preparation" for a new rally. After a 50% drop from January's highs, the altcoin could set a new record.
Scenario 2: According to Elliott Wave Theory, XRP is in a "calm" phase and is preparing for the third wave of growth.
Technical analysis:
Crypto trader Matthew Dixon confirms that on the daily chart, $XRP is trading within a symmetrical triangle.
Key levels:
For a bullish breakout, the price must close above $3.
The next important resistance level is $3.66.
Current phase:
Consolidation within the triangle is part of the distribution phase, after which momentum is expected that could raise the price to $4.
