Ripple XRP prepares for an explosive wave 3 surge.
Can the popular altcoin reclaim its previous ATH record soon?
Analysts share multiple bull targets for the altcoin.
The crypto community waits with high hopes for the price of all promising crypto assets to set a local bottom and recover higher targets. In detail, altcoins have been showing greater resilience and BTC and ETH strive to pull the crypto market into recovery. Specifically, Ripple XRP prepares for an explosive wave 3 surge, leading analysts to wonder if XRP can reclaim its previous ATH record soon.
Ripple XRP Prepares for an Explosive Wave 3 Surge
According to CoinMarketCap analytics, the price of XRP is currently trading at the $1.16 price range showing that the asset is slightly up over the last 24 hours. During the dip caused by the Binance hack, analysts and traders have been waiting to see when the market would enter a recovery phase, and perhaps it seems that we may be moving into not just a recovery, but quite possibly a rally.
To highlight, reputed analysts and XRP enthusiasts have been talking about the end of wave 2, which is the move that could bring the price of XRP to the $1.1 or $0.8 bottom targets. These experts have stated that these bottom targets have been highly anticipated and that the dip and rise that is set to follow it will be swift and that accumulators should be highly vigilant. After all, the dip has been awaited for about a year.
Can XRP Reclaim Its Previous ATH Soon?
Now, with the price of XRP still trading in the mid $1.16 price range, many wonder if the low has been set or if a quick sweep still remains before a major surge. As for what the major surge will look like, experts have a lot of thoughts to share. In the eyes of one, a surge to new ATH targets is highly likely and expects to see the price of XRP to set a new ATH in the $8 price range.
https://twitter.com/Carolinatcwnl/status/2119079865291100297
The analyst in the post above says that the surge could just be the start of the long-awaited wave 3 price rally. The post goes on to state how XRP has previously delivered an incredible rally, climbing from $0.30 to $3.66. According to a long-term Elliott Wave analysis based on this weekly chart, that past surge may have been merely the first phase of a much larger market cycle.
For now, the expert goes on to conclude, the focus is on the long-term structure near the $1.13 level. The chart suggests the following long-term targets: $2.90, $18.22, $30.30, $74.39, $117, and $333, if not higher. Additionally, she states that there is even a more extreme, long-term extended target of $1,000. These figures are projections based on Elliott Wave Theory and Fibonacci extensions, they are not definitive price predictions.