Altcoin XRP macro structure approaches critical stage.
Can XRP hit a new ATH this year?
Analysts share possible price trajectory for XRP.
As the crypto market makes its way through the first month of Q4, analysts are hoping that the latest correction phase has come to an end, meaning promising asset prices could start surging soon. Among these promising tokens lies XRP, an asset that has been hinting at surging to new ATHs for years now. In detail, one analyst states that altcoin XRP macro structure approaches a critical stage.
Altcoin XRP Macro Structure Approaches Critical Stage
According to CoinMarketCap analytics, the price of XRP is currently trading in the $1.34 price range, meaning that the asset is up by 2% over the last 24 hours. During this time, the price of XRP dipped under $1.3 just to surge right back above it once again. What’s more, over the last 30 days, the price of XRP went as right as above the $1.6 price range before the market correction.
https://twitter.com/CasiTrades/status/2110674438916038964
Thus, some analyst, like the expert in the post above, believe that XRP just set another higher low and will slowly work its way up to higher highs. In detail, the expert above says that XRP is setting up $1.27 as the wave 2 bottom price. To highlight, she says that XRP is moving right along in its wave 2 correction, and is getting very close to XRP’s first target at $1.27. Additionally, she states that recent development is giving her even more reason to believe this could be XRP’s bottom.
Next, she reminds traders that $1.27 includes a small buffer above the actual fib near $1.26. What's interesting is how little BTC has moved. Altcoins could find support soon and break higher without making new lows, even if BTC doesn't follow. However, she also mentions how she is prepared for XRP to react at $1.27, hold for a few days, and then continue lower toward $1.10 or even $0.87.
Can XRP Hit a New ATH This Year?
Overall, this is where swing traders and long-term holders are accumulating, positioning for the larger trend toward double digits. If you're leverage trading XRP right now, a reaction at $1.27 could offer an opportunity to manage risk and place a stop. Personally, she thinks it's best to wait for $1.65 resistance to break before considering leverage trading. After all, she concludes that we are getting so close to finding out whether this shakeout is setting up the next major wave 3.
https://twitter.com/Carolinatcwnl/status/2105310192560648677
Meanwhile, other analysts are hoping to see a massive surge to new ATHs soon. According to the expert in the post above, the macro structure for XRP is approaching a critical stage, with the trajectory outlined in the chart: a highly aggressive surge from $1.4 to $2,2, and $3.8. Once that is reclaimed, new ATHs are expected at $6.5 and $10 and above. If the current wave structure holds, the magnitude of future price swings could far exceed that of previous phases.