- Reputed analysts and Ripple enthusiasts come together to discuss XRP.
- Many analysts are trading expectations for the next parabolic move.
- Some believe the pattern is pointing to XRP hitting new ATH between $7 and $9.
This week has been the most brutal week yet for crypto prices. With the price of the pioneer crypto asset, Bitcoin (BTC), and the price of the pioneer altcoin asset, Ethereum (ETH), both having declined dramatically, this has led to a greater fall in market sentiment. Despite this, many still hold out hope for a parabolic price recovery, especially for altcoins. Now, reputed analysts and Ripple enthusiasts come together to discuss what’s next for XRP.
Reputed Analysts and Ripple Enthusiasts Come Together
According to CoinMarketCap analytics, the price of XRP is currently trading at the $1.41 price range, showcasing a decline of over 14.52% over the last week. The asset is also boasting a total market cap of $86,363,597,554.28 and a 24-hour trading volume of $4,232,457,988.64. This popular altcoin will need to surge over 63% to reclaim its previous ATH, set 8 years ago, at the $3.84 price range.
As we can see from the post above, one Ripple and XRP enthusiast talks about how he has watched the XRP charts for over half a decade and has absorbed information and perspectives from various traders and investors online. Based on this, he says that on the macro scale, big picture, XRP looks absolutely ready to blast into price discovery at any moment.
He then talks about the 7-year contracting triangle accumulation structure that has formed on the XRP price chart, which will soon be followed by an explosive 5-wave breakout to test XRP ATHs. He also mentions how XRP has been in an ABC correct/reaccumulation stage for over a year, which has resulted in mass fear and capitulated down to a .702-.786 retrace, which marks the macro wave 2.
Next Possible Parabolic XRP Moves
The enthusiast then says that XRP is positioned to begin the macro wave 3, which is typically the largest wave, into price discovery. However, he states that this wave could either be right around the corner or could take a while longer to work out this correction and begin its next impulse. Despite the timeline, he says to be prepared because when the correction resolves, which it 100% will, it will result in XRP moving quickly and violently to higher prices.
Similarly, another crypto expert goes on to compare XRP alongside BTC and explains the correlation between their price movements. For now, based on Bitcoin’s price action, the expert expects the price of XRP to fall slightly further and hit the $1.30 price range before expecting another wave to push the price back up. Based on this pattern, the price of XRP could hit targets between $7 and $9.
