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The XRP price can organize a Parabolic rally to new highlights of all time from $ 110. While an analyst shares a technical analysis to support this ambitious target, Bollinger Bandsmaker John Bollinger XRP explains as the market leader in the crypto space.
Analyst predicts a new XRP race goal up to $ 110
In a rather long x (formerly Twitter) afterMarket expert Egrag Crypto went deep into his analysis for the XRP price and based his predictions on his Elliott Golf Structure. The crypto analyst predicted confidence that XRP was on its way to a new ATH of $ 110. This bullish target would rise no less than 3,974% compared to the current market value.
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Firstly, Egrag Crypto outlines the five -golf structure of XRP, which underlines that every wave could be Push the cryptocurrency to a new target. The analyst reveals that XRP is currently in Golf 2 of his Elliott wave structure and is closely approaching Wave 3, which is expected to cause the most explosive increase.
In Golf 1, XRP saw an impressive increase of 733% to new highlights. In his current Golf 2, however, Egrag Crypto emphasizes that the Fractal 2017 seems in -depth. With the formation of a Double bottom patternThe analyst has predicted a potential price drop for the cryptocurrency.
Egrag Crypto further predicts that Wave 3 will activate a reversal and ensures that the price saves by 1,185%. This Massive price increase Would effectively place the XRP price on a potential target between $ 22 and $ 24. For a more conservative target, the analyst estimates an increase of around $ 22 to $ 24.
For Golf 4, Egrag Crypto predicts another important retracement similar to Wave 2. This time the analyst believes XRP can refuse with 14.6%, 23.6%or 38.2%compared to the price of Golf 3. This correction would mark a decrease of 65%from the peak of Wave 3, which means that the price of the cryptocurrency decreased to $ 8. He also emphasizes a worst case Bearish scenario Where XRP crashes as low as $ 3.4.
In particular the shares of Egrag Crypto Three potential bullish goals For Golf 5, the last part of the Elliott golf structure. He predicts that the Altcoin could rise between $ 32 to $ 48, $ 60 to $ 70 or $ 95 to $ 110. The analyst has his optimistic prediction based on trends from the past, where 2017 saw a big price study for XRP.
Bollinger Bands Creator says it will be active leader
In other news, Bollinger, the maker of the renowned Bollinger Band Technical Analysis Toolhas marked XRP in his last message and wonders if it could play a leading role in the cryptomarket. The technical analyst claims that Ripple has maintained better than other primary crypto vehicles.
Given the legal fights with the Ours and current regulatory challenges, Ripple remains resilient, and is intended to get clarity during the Final phases of the five -year lawsuit. In the meantime, the XRP price, which is currently being traded at $ 2.4, a recent increase in the last day with almost 4%, according to Coinmarketcap.
Featured image of Adobe Stock, Chart van TradingView.com
