The cryptocurrency analyst has set an ambitious target of $7-13 XRP pricebasing their predictions on Elliott wave theory and Fibonacci levels. According to the analyst’s price chart, waves 2 and 5 could push XRP towards these key targets, setting modern all-time highs for the cryptocurrency.

XRP Price Roadmap to Recent ATHs

The price of XRP remains stable rather a long-term consolidation trendstopping the previous price escalate after crossing the $2.50 level. Despite bearish trends and a drop to $2.2, TradingView’s cryptocurrency analyst “Zerpcrypto” stated common AND bullish forecast for the popular altcoin.

According to the analyst, XRP may experience: significant price escalate from $7.4 to $13.50. The analyst based his bullish outlook on the recent price action of XRP and Elliott wave theorya technical analysis tool that identifies predictable cryptocurrency price patterns and helps forecast market trends.

Zerpcrypto shared 2 years XRP price chart 2014 to present; marking the number of waves from one to five for larger cycles and subwaves within these cycles. The analyst chart indicates that XRP is currently in the middle of Wave 3, signaling: potential move up.

WITH Wave 2 is now completeZerpcrypto predicts that wave 3 could trigger a robust price rally, potentially driving XRP to $7.4. Once the Wave 3 target is achieved, a tiny pullback is expected in Wave 4, allowing the market to consolidate before XRP’s final substantial push higher by Wave 5. In this final wave, XRP could rise to $13.50 and potentially even rise as high as $27. $4.

In addition to the Elliott Wave theory, Zerpcrypto’s predictions are theory-based Fibonacci levels. XRP’s projected price targets of $7.4 and $13.5 align with the Fibonacci extension levels of 4.236 and 8.618, respectively, which reinforces the analyst’s bullish outlook.

Zerpcrypto also pointed out a positive Moving Average Convergence Divergence (MACD) for XRP, which further strengthened his confidence in the cryptocurrency’s projected price target of $7.4 to $13.5.

Crypto Whales buy 40 million XRP

Despite XRP prices drop to $2.25, down 13% over the past week, whales continue to accumulate immense amounts of tokens, viewing price declines as a potential buying opportunity. Crypto analyst Ali Martinez revealed a recent post on X (former Twitter) shows that whales have bought another 40 million XRP in the last 24 hours.

A member of the cryptocurrency community has was speculated that this large-scale purchase could signal that whales may be preparing for significant changes to XRP. Typically, a surge in whale purchasing activity often suggests increased confidence in bullish cryptocurrency prospects.

As the price of XRP has more than quadrupled from its previous low of $0.50 to over $2.20 in just two months, analysts are forecasting further increases as the bull market accelerates.

Featured image created with Dall.E, chart from Tradingview.com