Is XRP About To Shock The Market? Analyst Says $110 Is Possible 📈
Ripple's XRP, a top-performing cryptocurrency, is currently trading between $2.15 and $2.30, far below its previous high of $3.38. However, some analysts predict a major price rally for XRP. Egrag Crypto, a known analyst, suggests that XRP is set for another run by comparing its Elliott Wave structure with its past performance.
XRP is now above the critical $2 support, following a five-wave Elliott Wave pattern, which often indicates significant price movements. According to Egrag, XRP is in its second, corrective wave, positioning it for a potential surge toward double or triple digits, with predictions hinting at a rise to $110.
In the past, XRP saw a 733% increase during its Wave 1. Using the Elliott Wave extension formula, Egrag suggests Wave 3 could see aspirations for XRP reaching $22 to $24. Following this, a Wave 4 correction is expected before a potential Wave 5 rise could see XRP hitting prices between $32 and $100.
Source: www.newsbtc.com ↗
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