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XRP price

Analyst Who Correctly Called The XRP Price Jump From $1.4 To $2.8 Reveals The Rest Of The Prediction

Scott Matherson
by Scott Matherson
8 months ago
·
Posted in Altcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A crypto analyst who accurately predicted the XRP price jump to the $2.8 milestone has made another bold prediction for the cryptocurrency. The analyst recently shared a technical analysis of XRP based on the Elliott Wave Theory, identifying price wave patterns and their implications on the cryptocurrency’s future trajectory in the mid-to-long term.

Analyst Accurately Projects XRP Price Rally Above $2.8

The XRP price has had a major price turnaround in the past weeks, shocking the broader crypto community as it continues on this strong bullish momentum. TradingView crypto analyst Behdark revealed that he had initially analyzed XRP at $1.4 before projecting its rise between the $2.7 and $4.2 targets. 

Related Reading: Dogecoin Price Breaks Daily Candle With A Breakout Of The Bullish Pennant, Why A 200% Rally Is Possible

The analyst disclosed that since this last analysis, the price of XRP has skyrocketed by over 105%, reaching key zones and confirming his above $2.7 projection. Data from CoinMarketCap revealed that the XRP price is currently trading at $2.71, marking a 12.6% increase in the last 24 hours. 

Behdark has emphasized that the XRP price may be forming a “Running Triangle,” a consolidation pattern made up of the five waves of the Elliott Wave Theory: A, B, C, D, and E. Sharing a detailed XRP price chart, the TradingView analyst disclosed that the cryptocurrency was currently in Wave D, which is already nearing completion. This wave suggests that the XRP price may be getting closer to a resistance level, as indicated by the red zone on the chart. 

XRP Price 1
Source: X

The analyst revealed that XRP’s Wave D is targeting a new all-time high, signaling a potential for the cryptocurrency to briefly spike above critical resistance levels. He noted that after this sharp but brief price increase occurs, XRP is expected to correct downwards and officially enter wave E.

Following Behdark’s analysis, it appears that wave E may be the final consolidation phase of the Running Triangle. The analyst projects a major price rally above $15 once the triangle pattern completes. He disclosed that wave E indicates a strong bullish move for XRP that could potentially allow the cryptocurrency to hit new all-time highs this bull cycle. 

XRP Price Eyes Massive Surge To $30 

After accurately predicting XRP’s surge above $2.8, Behdark continued his technical analysis, further projecting that the cryptocurrency could surge close to the $30 price target. Based on his price chart, the analyst points to three potential long-term targets for the XRP price.

Related Reading: Bitcoin Market Dominance Slows Down – Is Altcoin Season Here Already?
XRP Price 2
Source: X

Firstly, the $30 price projection for XRP is a long-term target that the analyst believes the cryptocurrency can achieve by 2026. Behdark forecasted the future trajectory of XRP, predicting that it would surge to the key resistance zone at $3.1 by 2025 and then break past this level to settle between $5.5 and $6.5. 

By 2026, XRP is projected to experience a deep correction back to the resistance zone at $3.1 before skyrocketing massively again to three main targets: $8 – $9, $14 – $17, and $25 – $30.  

XRP price chart from Tradingview.com
Bears push down price to $2.5 | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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