XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35
04 Julio 2024 - 9:00PM
NEWSBTC
A crypto analyst has identified key indicators that point to a
substantial rally for XRP, the native token of the XRP Ledger
(XRPL). According to the analyst, XRP is poised to rebound from its
bearish trends and soar to new all-time highs XRP To Mirror
2017 Rally To New Highs In an X (formerly Twitter) post in June,
crypto analyst, Tylie Eric expressed bullish optimism about XRP,
emphasizing the cryptocurrency’s potential for a major rally this
year. He shared an XRP price chart depicting the cryptocurrency’s
price movements from as early as 2014 to 2025. Related Reading:
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$100,000, Here’s When Eric disclosed that XRP has met all the
necessary requirements and conditions to support a potential bull
rally to new highs. The analyst also revealed that XRP is
completely prepared to continue with “wave 3 and wave 5” of the
renowned Elliott Wave Theory. The Elliott Wave Theory is a
tool used to determine price movements in a cryptocurrency. The
technical analysis is based on viewing long-term recurrent price
patterns in a cryptocurrency. In his post, Eric disclosed that XRP
was currently displaying similar patterns and conditions to those
seen during its bull rally in 2017. Earlier in 2017, XRP witnessed
a massive price rally, which preceded its surge to new all-time
highs of $3.84 in 2018. Eric has suggested that XRP’s price action
was displaying the same bullish patterns, as a result, he has
projected a substantial price increase to $36.36 before the end of
2024. The analyst also revealed that XRP will have to witness a
whopping 7,637.22% surge for it can reach the projected price
target. Despite being a cryptocurrency analyst, Eric is an
avid supporter of the XRP cryptocurrency. The analyst has
constantly made bullish predictions for the altcoin, anticipating
potential rebounds from bearish sentiment. Moreover, the crypto
analyst revealed in his earlier post that XRP’s price action was
significantly “boring.” This could be attributed to the
cryptocurrency’s recent downward spiral. As of writing, the
price of XRP is trading at $0.45, reflecting a 4.12% decrease in
the past 24 hours and a 11.71% drop over the past month. The
popular cryptocurrency has continually recorded steep declines
since the beginning of June. Previously, the cryptocurrency
was consolidating slightly above $0.5, however now the
cryptocurrency is on a major downward trend, triggered by market
volatility and Ripple’s ongoing legal battle with the United States
Securities and Exchange Commission (SEC). Bullish Sentiment Rises
Despite its waning value, XRP’s bullish sentiment from crypto
analysts continues to rise. A particular crypto analyst identified
as ‘Egrag Crypto’ predicted that the altcoin was getting closer to
the Fibonacci (Fib) 1.618. The analyst disclosed that this
unexpected development could indicate possible areas for a price
reversal or continuation in XRP. Related Reading: Bitcoin
Price Crash Is Buy Opportunity As Wallets Holding 10+ BTC Reaches
New ATH Egrag Crypto also shared a price chart depicting XRP’s
price actions from 2014 to 2024. In his post he emphasized that if
history repeats itself XRP could potentially see a price surge to
$27. The analyst has urged investors to remain prepared and
optimistic about XRP’s projected surge to to $27. Featured
image created with Dall.E, chart from Tradingview.com
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