🔁 XRP $XRP
Price patterns mirror 2017 - double digits incoming!
According to his accompanying chart, with this breakout, the price of XRP could rise to over $40. Considering that XRP surged by 61,000% in 280 days in 2017, the expert feels confident that the cryptocurrency could experience such an equivalent move. The chart also indicated that the cryptocurrency is likely to achieve this target next year.
In this market cycle, the pricing of XRP should land between $27 and $33. He believes that for the cryptocurrency, replicating the historical performance of 2017 makes these price predictions achievable.
From its current position, the price of XRP has plenty of room to move upwards. After last year's increase, he pointed to the bullish flag that was created for the cryptocurrency, tracking a consolidation period. After this period of consolidation, the experienced one expects XRP to show a positive continuation, potentially reaching $5. For the token, this would set a new all-time high (ATH).
While the cryptocurrency expert emphasized the declining wedge pattern developing for the cryptocurrency, he stated that the price of XRP is in a positive phase. According to him, this trend indicates the potential price for the altcoin.
of $3. However, the expert warned that if the wedge formation collapses downward with strong bearish candles, this formation could become worthless.
At the same time, the crypto expert noted that the price of XRP is now in wave B of wave 2 of the corrective actions. Once waves B and C in this corrective wave are completed, he expects the cryptocurrency to rally to its all-time high. In the long term, the expert is also confident that the altcoin will rally to reach double digits. Based on his study of Elliott Wave theory, he originally estimated that the cryptocurrency could be valued at $18.