XRP Price Prediction: A Potential Parabolic Surge on the Horizon
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Could XRP Experience a Remarkable Price Increase?
The cryptocurrency XRP is poised for a remarkable price surge, potentially reaching double digits, which would establish a new all-time high for the altcoin. This prediction comes from renowned crypto analyst Waters Above, who anticipates an ‘XRP Summer’ characterized by significant price escalation.
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Forecasting XRP’s Potential Upgrade to $15
In a recent social media post, Waters Above shared with the XRP community his belief that an ‘XRP Summer’ is imminent, suggesting the altcoin could skyrocket to $15 by July 24th. The analyst compared the current cycle to the 2017 cycle, indicating that XRP is at a similar stage before its previous high of $3.84. This analysis aligns with the Elliot Wave Theory, projecting a Wave 5 impulsive move upwards over a span of seven years. The chart indicates that XRP could peak at $15, followed by a consolidation phase before embarking on a new all-time high.
In a prior post, Waters Above detailed the anticipated path for XRP’s ascent to this double-digit target. He pinpointed June 4th to 6th as crucial dates for establishing the bottom, with expectations of a breakout to $10 by June 18th. This aligns with the forecasted $15 mark by July 24th.
Strategic Insights from Other Crypto Analysts
Crypto analyst CryptoInsightUk introduced a different perspective, suggesting that XRP may need to experience a temporary decline before rallying to double digits. He speculates that the altcoin could briefly dip to between $2.01 and $1.95 to expel leveraged long positions. Once this occurs, a rally towards $10 can commence.
Anticipating July as a Pivotal Month for XRP
In another analysis, crypto analyst Egrag Crypto predicted that July 21 would signify a cycle top for XRP’s price. He suggested that if the 110-day offset remains valid, the cycle peak could extend to November 9 later in the year. Despite this, Egrag Crypto remains optimistic about XRP’s performance in July, forecasting an average target of $29. His analysis also indicates that XRP could achieve a 2,500% gain, with potential highs reaching $46. The minimum target for this projected rally is set at $12.
As of now, XRP is trading at approximately $2.23, reflecting a modest increase of over 1% in the past 24 hours, according to CoinMarketCap data.
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