A new one XRP price prediction Crypto analysts have predicted that the popular altcoin from the future will experience a dynamic growth in the new week. Based on elliott wave theory and key technical indicators, the analysis outlines how xrp could end. Breaking a syncretic triangle pattern.
On January 26, Dark Defender, a leading crypto analyst at X (formerly Twitter), Predicted An XRP price More than a new best $5.85. The analyst creates an Elliott Wave pattern consisting of five waves (1 to 5) in an uptrend consisting of five waves (1 to 5).
Xrp breaking up to $5.85
in general, Elliott Wave Theory Suggests a cyclonic price movement, where wave 3 is presented as the strongest wave with the highest Explosive price increases. On the other hand, wave 4 is correctly highlighted as a phase, while wave 5 represents the final leg of an uptrend.
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Dark Defender revealed that the restructuring level of the current XRP Elliott Wave was established. This price increase translated to a 261.8% increase, marking the dynamic shift in the new week.
Once the $5.85 target is achieved, Wave 5That is the final movement of the Elliott Wave cycle, which points to the long-term price target of 18.22. Marking a historic milestone for XRP to achieve this level, it represents a massive 361.8% increase to a massive 361.8% increase.
In his detailed analysis, Dark Defender also pointed to a 4 hour Symmetrical triangle pattern Xrp price on the chart. This unique technical formation is often the precursor to a significant price movement, which, in the case of XRP, the analyst predicts will occur in the next 16 to 20 hours, following his analysis.
A breakout from the triangle pattern is expected to align with the broader uptrend. In addition, the green circle on the chart indicates that Xrp value has been reset And after breaking the breakeven line towards the $2.4 resistance level after the support. This move sets the stage for the analyst’s expected rally, with a primary target at the $5.85 level and a secondary target at $4.55.
Xrp value drops 10% in one day
While the vast crypto market exhibits Bullish sentiments towards Xrp Due to its impressive performance this year, the popular altcoin is currently facing significant bearish momentum as it struggles to break even. Key resistance level.
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As of writing, data from CoinMarketCap shows that XRP has fallen from a previous price of $3 to above $2.8. In the last 24 hours, the cryptocurrency recorded a 10.3% drop in the last 24 hours, following a 14% drop in the last week.
Despite this bullish performance, analysts remained bullish on xrp, Predicting predicting rallies This could propel the altcoin to new heights. An important one forecast Suggesting that Xrp could go much higher over time and possibly Bitcoin, the world’s largest cryptocurrency.
Featured image from Adobe Stock, chart from TradingView.com
