A crypto analyst who accurately predicted XRP’s price jump to the $2.8 milestone has made another bold prediction for the cryptocurrency. The analyst recently shared some technical information. XRP analysis based on Elliott wave theoryidentifying price wave patterns and their implications on the future trajectory of the cryptocurrency in the medium and long term.
Analyst Accurately Projects XRP Price Rally Above $2.8
The price of XRP has had a major price change in recent weeks, surprising the broader crypto community as it continues 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.
The analyst revealed that since this last analysis, the XRP price has soared more than 105%, reaching key areas and confirming its projection above $2.7. Data from CoinMarketCap revealed that the price of XRP is currently trading at $2.71, up 12.6% in the last 24 hours.
Behdark has emphasized that XRP price may be forming a “Running Triangle”, a consolidation pattern formed by the five waves of the Elliott wave theory: A, B, C, D and E. Sharing a detailed XRP price chart, the TradingView analyst revealed that the cryptocurrency was currently in Wave D, which is already nearing completion. This wave suggests that the price of XRP may be approaching a resistance levelas indicated by the red zone on the graph.
The analyst revealed that XRP’s Wave D is targeting a new all-time highindicating the possibility of the cryptocurrency briefly surpassing critical resistance levels. He pointed out that after this strong but brief price increase occurs, XRP expected to correct lower and officially enter wave E.
Following Behdark’s analysis, it appears that wave E may be the last consolidation phase of the Career Triangle. The analyst projects a major price rally above $15 once the triangle pattern is completed. It revealed that wave E indicates a strong bullish move for XRP that could allow the cryptocurrency to reach new all-time highs in this bullish cycle.
XRP Price Eyes Massive Rise to $30
After accurately predicting XRP’s rise above $2.8Behdark continued his technical analysis and further projected that the cryptocurrency could approach the price target of $30. Based on his price chart, the analyst points out three possible long-term goals for XRP price.
Firstly, the $30 price projection for XRP is a long-term target that the analyst believes the cryptocurrency can reach by 2026. Behdark forecast the future trajectory of by 2025 and then it would break. beyond this level to settle between $5.5 and $6.5.
By 2026,
Featured image created with Dall.E, chart from Tradingview.com
