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The XRP price continues to see Strong bullish signals In the medium term, with a crypto analyst who predicts an important switch to a new ATH. Despite the constant market fluctuationsThe cryptocurrency continues to retain important levels, which maintains a bullish path to the purpose of $ 5.
Elliott Wave maps the XRP price path to $ 5
XFORCEGLOBAL, a certified Elliott golf analyst, recently shared a medium-sized time Elliott Golf Analysis of XRPFocused on his price action and golf structure. According to the analyst, XRP stays on a bullish path, which indicates a strong Potential for upward movement On the way to the goal of $ 5.4.
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The price diagram to show That XRP is in the last phases of a complex corrective pattern and is ready to enter a powerful third-golf rally. The current golf structure indicates that XRP forms a “1-2 scenario”, whereby the next Golf 3 is expected to launch its price considerably higher.
XFORCEGLOBAL has one Fibonacci Retracementzone Between the range of $ 2.00 and $ 1.80 as a potentially access point, whereby price action shows resilience near this area. The critical price level to pay attention to XRP is the regional layer at $ 1.60, which acts as the most Important support level That would determine the next step of the cryptocurrency.
This level of support is because if the price of XRP remains above it are Projected Bullish Scenario And the current structure remains intact. On the other hand, if the price falls underneath, the Trend Bearish can move, making the bullish prospects invalid.
With $ 1.60 that act as a Strong Support Foundation, projects XFORCEGOLOBAL that XRP could soon be able to rise beyond $ 3.20 and could possibly reach $ 5.40 in the coming months. This would be one New high for XRPWhich represents an increase of 40.63% compared to the current ATH of $ 3.84.
$ 2.18 marked as a key fall level for the Altcoin
Bitcoin Benny, a crypto analyst, shares a similar bullish prognosis and has shared A technical analysis of XRP on the 1 -hour period to map its likely price process. According to the analyst, XRP shows signs of recovery After enduring a competitive market correction at the end of April.
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The cryptocurrency had made a considerable peak of approximately $ 2.3, but underwent one dramatic dropAllegedly at around $ 2,125 on a bottom of around $ 2,125, where buyers quickly entered to stabilize the price. This level of support has since been kept strong, with the XRP price currently consolidates Just below this point.
The analyst marked on the right side of the graph has indicated the analyst a key resistance level at $ 2.18, so that this level is labeled as a critical breakout point. Suppose the Altcoin can break decisively and close above $ 2.18. In that case, Bitcoin Benny predicts that it could activate what he calls a ‘shipping season’, which is a rally driven by the impulse that could push XRP to new levels to possibly test its previous highlights.
Featured image of Getty Images, Chart van TradingView.com