XRP is one of the main characters of the current bull market after an impressive rally in November and some macroeconomic and potential legal changes. Currently, outstanding Altcoin has some tiny price benefits after a fairly turbulent commercial week on the cryptographic market.
Meanwhile, the popular EGRAG Crypto analyst supported XRP potential of both brief -term and long -term price benefits, despite the current level of uncertainty on the cryptographic market.
Public perspectives: XRP reached $ 20 – USD 66
In the last X Post On March 1, Egrag Crypto provided some future XRP market projections using the Wave Elliott theory – technical analysis methods based on five repetitive wave patterns in market cycles. According to Egrag, XRP has since completed a wave of 1 510% price augment in Q4 2024.
Currently, Altcoin moves Wave 2, which is usually a corrective model defined by extended or irregular flat formation. EGRAG predicts that the wave can cause a drop in prices to about USD 1.77, creating bears of traps from quick reversal to around 3.7 – 3.9 USD.
Then the XRP is expected to initiate wave 3, which is usually the most explosive, aggressive and parabolic phase in the theory of Elliot wave, driven by a forceful stubborn sentiment. EGRAG Crypto explains that Wave 3 is usually 1.618 times wave 1, suggesting a potential price augment 800% -1 000% to 17-20 USD.
After a wave of 3 XRP, he slips into Wave 4, which is another corrective phase. Like Wave 2, this is a fit correction before the final price augment. EGRAG projects that Wave 4 can force the fourth largest cryptocurrency to return to around 6-7 USD.
Finally, Wave 5 will start after the final correction. This is the last phase of Elliot wave theory and is characterized by stubborn euphoria and high entry to the market by modern investors. According to the analyst, wave prices 5 were historically diverse, including (reverse 1,238-i.618 wave 4), which would cause a price of around USD 20-29.
Alternatively, wave 5 can also be equal to Wave 1 and produce 510% on stopping prices wave 4 (6-7 USD), which indicates a potential target of around 44 USD. EGRAG Crypto states that the final possibility of wave 5 is 61.8% (Wave 1 plus wave 3) indicating the price of the XRP price of 66 USD.
XRP market perspectives
At the time of writing, XRP trades at USD 2.23 after increasing the price by 1.74% in the last 24 hours. However, the daily activity of the commercial volume broke down by 58.53% and is now valued at $ 3.29 billion. In general, the sentiments around XRP remain stubborn despite the last commercial misfortunes. In particular, there is a great hope that the American Commission for Securities and Exchange will abandon its appeal against Ripple in accordance with similar activities with Gemini, Coinbase and Robinhood.
Recommended photo from Tradeshal, chart from TradingView
