Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Crypto analyst XForce has again alluded to the 5-Wave count to show when the XRP Price is likely to hit a new all-time high (ATH) above $5. As part of his analysis, the analyst also declared that there is no reason to be bearish on the altcoin at the moment.
XRP To Rally Above $5 Based On 5-Wave Count
In an X post, XForce shared an accompanying chart that showed that XRP could rally above $5 on the Wave 3 impulsive move to the upside. The altcoin could even rally to double digits and touch $13 on this move. The chart also showed that XRP will reach this target by year-end or early next year.
Based on the 5-Wave count, XRP will then witness a price correction to around $5 on Wave 4 before it then rallies to around $25 on Wave 5, an impulsive move to the upside. XForce is confident that the current price action is going according to plan. He noted that the macro direction was met with very little margin of error.
Furthermore, the crypto analyst remarked that everything from the Wave 4 triangle breakout to the anticipated 1 to 2 pullback following the 5-wave impulse followed the blueprint. In line with this, he declared that there is no valid reason to adopt a bearish stance unless the market invalidates the bullish case for XRP.
XForce also affirmed that XRP is within the bounds of the same two scenarios but that the ultra-bullish scenario of a rally to double digits is gaining more credibility by the day. The more conservative scenario for the altcoin is a rally to $4, which could still mark a new all-time high for XRP. The analyst earlier declared that all scenarios on the medium timeframe still show the altcoin reaching a new ATH in this market cycle.
XRP Consolidation Has Reached Its Peak
In an X post, crypto analyst CasiTrades stated that the XRP consolidation has finally reached its apex and that something big is coming next. She remarked that the altcoin could either record an explosive breakout or see one final sharp drop to support that ignites a breakout. Either way, XRP looks likely to rally to the upside soon.
CasiTrades stated that the XRP price continues to struggle with the $2.25 level. As long as this level remains resistance, she claimed that it increases the likelihood of the altcoin dropping to support levels at $2.01, $1.90, and even $1.55. However, the analyst declared that these aren’t bearish targets but momentum zones, where the market grabs the liquidity it needs to build momentum for Wave 3.
At the time of writing, the XRP price is trading at around $2.16, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.
Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.
With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.
Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.
Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.
Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.
Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
