$22 XRP Price Forecast: Analyst Predicts Bullish Third Elliott Wave
An analyst’s recent Elliott Wave analysis projects a bullish trend for XRP, with the third wave potentially pushing the price to $6.
Charting Guy indicates that XRP completed Wave 2 with a July 5 drop to $0.3825 and is now entering Wave 3, historically the most bullish phase.
Following Wave 3, Charting Guy anticipates a minor correction in Wave 4 but expects the overall bullish trend to continue, potentially driving XRP prices to $22.
An analyst’s recent Elliott Wave analysis suggests a bullish outlook for XRP, with the third wave potentially pushing the price up to $6. According to Charting Guy, XRP completed Wave 2 with the July 5 drop to $0.3825 and is now entering Wave 3. Historically, Wave 3 is often the most bullish phase.
Various analysts have set multiple bullish targets for XRP amid this third Elliott Wave. Last December, CryptoBull projected that Wave 3 could elevate XRP to $27. More recently, Cryptobilbuwoo forecasted a range of $21 to $45 for this wave.
people highly underestimate how violent altcoin wave 3s are$XRP https://t.co/l10wNpKS6d pic.twitter.com/BPY2izy869
— Charting Guy (@ChartingGuy) July 24, 2024
Following Wave 3, Charting Guy anticipates a corrective Wave 4, which might involve price consolidation or a minor pullback. Nonetheless, the overall bullish trend is expected to persist with Wave 5, potentially driving XRP prices up to $22. Charting Guy also mentioned that while $22 represents an optimistic target, a more realistic goal would be in the range of $8 to $13.
Key Points:
The ongoing Bitcoin distribution from Mt. Gox has negatively impacted XRP’s price. The release of 52,550 BTC into the market has increased supply and exerted pressure on all cryptocurrencies, including XRP. Despite this, XRP is
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