The post 3rd Elliott Wave Completion Can Take XRP to $27: Analyst appeared on BitcoinEthereumNews.com.

The XRP price might be looking to record a spike toward the $27 price territory upon completing a pivotal Elliott Wave, as crypto market analyst CryptoBull recently predicted. The analyst made this forecast while analyzing XRP’s price movements over one 1-month. CryptoBull leveraged an Elliott Wave structure religiously followed by XRP amid a series of price declines and upswings.  An Elliott Wave structure typically comprises five waves. CryptoBull presented a monthly chart that detailed how the XRP price has moved over the years while tracing these waves. The first structure started in mid-2014 and lasted for over three years. XRP Price Records First Elliott Wave Structure Notably, XRP recorded the first wave of this structure in July 2014. The first wave, which spanned five months, resulted in an impressive price run from $0.00379 in July 2014 to $0.02803 in December 2014. This marked a massive 659% increase. – Advertisement – However, the second wave brought a correction, resulting in XRP relinquishing some gains from the first wave. This second wave lasted a year, from January 2015 to December 2015. Upon completing the second wave, the XRP price had dropped to $0.00604. XRP Elliott Wave Structure | CryptoBull Nonetheless, the bulls were relentless, leveraging the strength from the third wave for a more substantial price upsurge. XRP began the third wave in January 2016 when it changed hands at $0.00604. The asset rallied 6,502% on the back of the Wave 3 to $0.3988 in May 2017. This marked the completion of the third wave. Wave 4 ushered in another correction similar to the one with Wave 2. However, this correction was less damaging than the previous one, as it mainly represented consolidation. XRP eventually picked up again when the fifth and last wave started, rallying to an all-time high of $3.3…

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Filed under: News - @ December 3, 2023 6:50 am