A cryptocurrency expert recently issued an urgent warning about a last-minute selling opportunity for XRP, identifying the $3.33 price point as an ideal exit strategy. The expert explained why now might be the optimal time to divest from the digital asset, anticipating a significant downturn that could lead to new price lows.
Crypto Analyst Recommends Selling XRP to Avoid Impending Correction
On January 23, a TradingView analyst known as ‘Comeon25’ shared an insightful analysis of XRP using the Elliott Wave Theory. The expert anticipated an upcoming price correction and advised investors and traders to exit the market at the $3.33 mark prior to this anticipated downturn.
The analyst’s chart analysis revealed that Waves 1 and 2 of the XRP Elliott Wave cycle indicated a consolidation phase, while Wave 3 showcased robust upward momentum with substantial gains. However, the focus of the current analysis, Wave 4, is projected to initiate a significant correction, potentially bringing prices to new lows. The analyst forecasts that this downtrend could lead to a dramatic price drop to the 5 Fibonacci retracement level, with a target around $2.5.
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Data from CoinMarketCap indicates that XRP is currently trading near $3.12, suggesting that a decline to $2.5 would represent roughly a 20% decrease. In light of this potential correction, the analyst has identified the $3.33 level as a final opportunity to sell the altcoin at a relatively higher price.
The timeline for this predicted downturn has also been outlined by the TradingView analyst. According to the chart’s projections, the Wave 4 correction is anticipated to commence soon and could extend until March 25, 2025. This period offers investors and traders a window to potentially divest from XRP before the expected decline, thereby mitigating significant financial risks.
Optimistic Outlook: Key Drivers and Strategic Buying Zone
Although ‘Comeon25’ cautions against a possible XRP price drop, the TradingView analyst also highlighted several optimistic factors that could drive long-term gains for the cryptocurrency. A pivotal element supporting a positive outlook is the potential emergence of a pro-crypto government under Donald Trump’s leadership, which could foster a favorable regulatory environment for digital currencies.
The analyst also pointed to Ripple’s potential move to the United States as a noteworthy bullish signal. This relocation could align with the country’s increasing pro-crypto initiatives, granting Ripple greater regulatory clarity. Furthermore, the analyst noted recent adoption milestones, including Japanese banks’ announcements to integrate the XRP network for more efficient cross-border payments.
In addition to these bullish fundamentals, the analyst’s chart identifies a strategic “buy zone” between $2.00 and $2.50 during the anticipated Wave 4 correction. This area could provide a valuable entry point for capitalizing on potential gains in the final Wave 5 of the Elliott Wave cycle.
*Note: Original images and charts have been sourced from Adobe Stock and Tradingview.com.*
