XRP was one of the main figures in the current bull market after an impressive gathering in November and some total and potential economic developments. Currently, the prominent Altcoin is witnessing some simple price gains after a somewhat turbulent trading week in the encryption market.
Meanwhile, the famous analyst Egrag Crypto supported XRP capabilities for both short -term and long -term price gains despite the high level of uncertainty in the encryption market.
Up to the upcoming expectations: XRP tends to reach 20 to 66 dollars
In a conversation X post On March 1, Egrag Crypto has presented some future expectations for the XRP market using the Elleott Wave theory – a technical analysis method that depends on five repeated wave patterns in market courses. According to EGRAG, XRP has since completed the wave 1 after increasing its price by 510 % in the fourth quarter of 2024.
Currently, Altcoin moves in wave 2, which is usually a specific correction pattern expanded or irregular formation. EGRAG predicts that the wave may lead to a decrease in prices to about 1.77 dollars to form a landfill before a rapid reflection to about $ 3.7 – $ 3.9.
Next, XRP is expected to start the 3rd wave, which is usually the most explosive, aggressive and equivalent stage in the Eliot Wave theory, which is fueled by strong bullish feelings. Egrag Crypto explains that the 3 wave is usually 1.618 times the wave 1, indicating an increase of the price of 800 % -1000 % to $ 17 -20 dollars.
After wave 3, XRP will slide into the 4 wave, which is another corrective stage. Like the 2 wave, this is a healthy correction before increasing the final price. EGRAG projects can force Wave 4 to the fourth largest encrypted currency to return to about 6 dollars.
Finally, the wave 5 will start after the final correction. This is the last stage of Elliot Wave theory and is characterized by bullish euphoria and entry into the high market by new investors. According to the analyst, it varied historically that the goals that the wave gives 5, including (reverse 1.238-i.618 times 4), which would lead to a price ranging between 20 and 29 dollars.
Instead, the wave can be 5 equal to the 1st wave and produced by 510 % on the wave price of 4 ($ 6 – $ 7), indicating a possible goal of about 44 dollars. EGRAG Crypto states that the final possibility of the 5 wave is 61.8 % of (wave 1 in addition to the 3 wave) that blames the XRP price of $ 66.
XRP Outlook Outlook
At the time of writing this report, XRP is trading at $ 2.23 after increasing the price of 1.74 % over the past 24 hours. However, the daily trading volume activity decreased by 58.53 % and now valued at $ 3.29 billion. In general, feelings about XRP still spoiled despite their recent commercial problems. In particular, there is a great hope that the US Securities and Stock Exchange Committee will bring the issue of appeal against Ripple after similar measures with Gemini, Coinbase and Robinhood.
Distinctive image from Tradeshala, tradingvief graph
