- Altcoin XRP could fall to $1.5 before rallying into a wave 5 surge.
- This surge could lead to new ATH prices for XRP.
- Analyst expects a fall to $1.3 – $1.5 before a rally to $6.5 – $10.
The price of XRP does not seem to be falling as drastically as BTC and ETH, although its price is currently dipping in a nearly completely red state. Analysts continue to hold high price surge expectations for promising altcoins like XRP in the coming months ahead. At the moment, one reputed crypto analyst says XRP could fall to $1.5 before rallying into a wave 5 surge that could yield new ATH prices.
XRP Could Fall to $1.5 Before Rallying Into a Wave 5 Surge
The price of XRP is presently trading in the low $2 price range and is expected to dip to slightly lower prices before surging back up to hit bullish ATH price targets that many analysts and traders have been waiting to see all cycle. With the altseason peak phase having been delayed so much, analysts and traders hold on tight to promising assets, hoping for a sudden bullish surge.
As we can see from the post above, the reputed, popular, and notably recognized analyst and trader Lark Davis says that Ripple’s XRP is currently facing two major resistances at the moment. These resistances include a previous support line, which must now be broken past once again to open a plausible path to new ATH targets in the coming days and months ahead. The other resistance is the 0.618 Fib right above the previous support line.
This Could Yield New ATH Prices for XRP
According to Lark Davis, XRP bulls need to punch out a weekly close above the $2.8 price level, if not, there could be a steep downside for the price of XRP. Looking at the current state of the crypto market, XR bulls winning out is highly unlikely. In the event of another dip, another reputed crypto trader and analyst shares her take on how XRP can rally and what indicators must be met for it to happen.
The analyst in the post above says that after last Friday’s massive wipeout, the market rebounded nicely, but is now stalling. This is to be expected after such an extreme move, as the market consolidates and prepares for the final wave of the impulse. Since markets rarely pivot directly from massive Wave 3 moves, we are seeing an exhausted final move down (Wave 5) to complete the impulse before the new trend begins.
For now, this analyst expects the price of XRP to fall to the $1.5 price range area, or at the worst, a test of the .618 retracement around $1.46 or even the golden pocket near $1.35. If XRP price hits these targets, it could set the stage for a massive reversal, potentially the start of the long-awaited Wave that could target $6.50 to $10.00 bullish XRP ATH targets. Thus, some analysts expect a powerful impulse pump on the horizon.