Analyst’s Elliot Wave Theory Shows XRP Price Can Hit $18, Here’s When

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As a seasoned researcher with years of experience analyzing cryptocurrencies, I find it fascinating to see such bullish predictions for XRP. Dark Defender’s Elliot Wave Theory analysis and the subsequent $18 price target by mid-2025 caught my attention, especially given the current momentum XRP is enjoying. However, as a cautious analyst, I always remind myself that the crypto market can be unpredictable, so I would suggest setting realistic expectations for investors.

Crypto analyst Dark Defender has shared his Elliot Wave Theory analysis, which shows that the XRP price can rally to as high as $18. The analyst’s accompanying chart further showed when XRP can reach this double-digit price target.

XRP Price To Hit $18 Next Year

According to a recent analysis using the Elliot Wave Theory, Dark Defender posted a chart suggesting that the value of XRP could potentially reach $18 by halfway through next year. This analyst believes that XRP has adhered to and continues to follow this particular Elliot Wave pattern.

Analyst’s Elliot Wave Theory Shows XRP Price Can Hit $18, Here’s When

In his examination, Dark Defender disclosed that XRP was presently in its third surge wave. The graph indicated that this upward thrust would propel the cryptocurrency towards a $5.8 value range. According to the graph, this ascent to $5 might occur before the year ends.

After reaching approximately $5, it’s expected that XRP’s price will experience a pullback, potentially dropping to roughly $4. This pullback, or corrective wave 4, is anticipated to pave the way for the cryptocurrency to reach its $18 price target by mid-2025.

In the past week, XRP has seen a significant surge in positive price movement, climbing more than 64%. A portion of this increase can be attributed to the upcoming departure of US Securities and Exchange Commission Chair Gary Gensler. This change is favorable for cryptocurrencies as Gensler was instrumental in leading the Ripple lawsuit with the SEC, which has historically had a negative impact on XRP’s value.

Next Stop Is $2 Before Rally To New ATH

In a recent post on X, crypto analyst Armando Pantoja expressed his belief that the price of XRP could soon reach between $2 and $2.10. This forecast is based on his observation that XRP is breaking through resistance and moving towards the 0.786 Fibonacci level at $1.61. Remarkably, Pantoja suggests that if the price reaches $2, it could pave a relatively straightforward route for XRP to potentially climb up to $8.

Analyst’s Elliot Wave Theory Shows XRP Price Can Hit $18, Here’s When

Analysts Ali Martinez and CrediBull Crypto anticipate a surge in XRP value, potentially reaching $2, with this prediction supported by Paul Atkins’ potential as Gary Gensler’s successor at the US SEC Chair position. The $2 projection from CrediBull Crypto was based on his observation that the XRP monthly Relative Strength Index (RSI) is about to breach the overbought territory for the first time in three years, signaling a strong upward trend.

As I analyze the market trends, I’m observing that when the Relative Strength Index (RSI) rises, it indicates a stronger momentum, implying a bullish outlook for the coin. Based on this observation, my projection is that XRP could potentially reach $2 next, and if it does, we might be witnessing a new All-Time High (ATH).

Crypto expert Javon Marks has expressed optimism about XRP’s price increase. In a recent post, he noted that the coin is displaying strong indications following its breakout from a smaller chart pattern known as a pennant. Given this development, he believes that a significant upward trend could be underway, potentially pushing the price above $3.

Analyst’s Elliot Wave Theory Shows XRP Price Can Hit $18, Here’s When

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2024-11-22 23:56