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The XRP price has been made in the past seven days Nothing is impressive. The cryptocurrency has reached more than $ 2.6 again during the past 24 hours, which is the first time that it has done this since early March, about two months ago. This movement is in line with the expected upward trend by many analysts, Those who refer to Fibonacci levels To plan the future track of XRP.
It is worth noting that the interesting view of the encryption analyst on the X social media platform using Fibonacci levels indicates that XRP will reach $ 8.40 and $ 27 in this session.
The analyst points to Fibonacci goals at $ 8.40 and $ 27
The XRP price structure was in the current session It is greatly formed through its outbreak Above the formation of a sprays tightening, which pressed the prices from 2021 to the first months of 2024. This configuration, clearly visible in the monthly timeline candles, served as a multi -year unification zone that was crowned ascending momentum and defined a long -term market.
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The final penetration of this structure End the long bear market A new rising stage began. Although the past few months have been full of corrections and monotheism after XRP reached $ 3.31 in January, the last market momentum indicates the next stage.
An analyst for encryption on the social media platform x Refer to two Fibonacci extension levels that can serve as targeted areas during the next impulsive wave of XRP. According to the analysis, XRP reached both the goals of the Fibonacci 1.272 and 1.618 extension in the last session after interruption of a multi -year multi -year wedge structure in 2017.
Interestingly, this step in 2017, which leads to the current price procedure, is part of the Elliott wave structure itself. As shown in the graph, the XRP was launched from a decrease of $ 0.00310 in 2017 to its highest level ever of $ 3.40 in 2018 during the third wave (name (3)), as it reached the levels of Vibbonchi extension 1.272 and 1.618 before restoring the fourth wave.
According to the analyst, the current price procedure since 2020 is the formation of the fifth driving wave. By applying the same logic of the extension on the current structure of the minimum level of 2020 at $ 0.11379, the transition to these Vibonacci accessories indicates a goal of $ 8.40 at 1.272 and 27.23 dollars at the extension of 1.618.
XRP to reach $ 8.40 or even $ 27 in this market tour?
Whether XRP can rise realistically to $ 8.40 or even $ 27 during this market The course has not yet been seen. Although the 2017 race to 2018, where XRP rose more than 1000 % within weeks provides a convincing condition, the market conditions today are more complicated. The amount of flows and trading size needed to pay the XRP price to these levels will be much greater than the one that you have seen before.
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but, From a technical perspectiveFibonacci goals can be reached when considering how similar price structures behave in the past. An example of this is the gathering from $ 0.00310 to more than $ 3.40 in 2017. The price can reach $ 15 very soon.
At the time of this report, XRP is trading at $ 2.50, an increase of 3.4 % over the past 24 hours with an increase in the day 2.61 dollars.
Distinctive image from Getty Images, Chart from TradingView.com
