Chartist Sets Bullish Price Target as XRP Wave 3 Unfolds
Main Idea
A chart analyst predicts a significant price surge for XRP, targeting $10-$15, based on Elliott Wave theory and Fibonacci extensions, with strong technical indicators supporting the bullish outlook.
Key Points
1. Renowned chart analyst XRPunkie forecasts XRP could surge between $10 and $15, with $13 as a key extension target, based on Elliott Wave analysis.
2. The technical setup shows XRP in the early stages of Wave V, with a recent correction aligning with typical subwave 2 behavior, setting the stage for a potential explosive Wave 3.
3. Fibonacci levels indicate strategic profit zones, with key targets at $6.00, $7.55, and a 3.618 extension projecting $13.59, aligning with XRPunkie's upper target range.
4. XRP remains technically strong, trading around $3.05, with the 21-day EMA and 33-day SMA supporting the bullish outlook.
5. The broader crypto environment and regulatory developments are seen as favorable for XRP's potential rally.
Description
XRP is once again in the spotlight as bullish momentum builds around its next major move. In a recent post on X, renowned chart analyst XRPunkie shared a detailed Elliott Wave chart outlining the potential for XRP to surge between $10 and $15, with $13 as a key extension target. The technical setup, paired with strong market sentiment, suggests that XRP could be on the verge of a powerful rally. Elliott Wave Structure Points to an Explosive Phase XRPunkie’s chart lays out a textbook Elliott Wave...
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