The post Forget The Dip! XRP Primed For Epic Rally To $36, Expert Claims appeared on BitcoinEthereumNews.com.

The price of XRP, the native token of RippleNet, has been caught in the crosshairs of a bearish crypto market. Currently trading below the crucial $0.50 mark, XRP seems to be following the broader market trend. However, a recent analysis by market analyst Tylie Eric throws a glimmer of hope for XRP holders, predicting a potential price surge based on a technical indicator. Related Reading Understanding Elliott Wave Theory Eric argues that XRP’s price movements might be following a historical pattern known as the Elliott Wave theory. This theory proposes that market trends unfold in a specific five-wave structure, with each wave representing a distinct phase in the price cycle. According to Eric, XRP has exhibited this five-wave structure on multiple occasions in the past on its weekly chart. Notably, each time this pattern materialized, the fifth and final wave culminated in a significant price increase. #XRP. BEAT BY BEATI think XRP has ticked all the boxes and held all requirements to continue with wave 3 of wave 5,Same way it did in 2017! pic.twitter.com/qqexAC7b1X — Tylie E (@TylieEric) June 20, 2024 Eric cites the example of early 2017, where the completion of the fifth wave triggered a surge that propelled XRP to a high of $0.39, a staggering 7,700% increase. This upswing was followed by a brief consolidation period before another decisive rally to $3.30. A Potential Fifth Wave? Building on this historical precedent, Eric believes XRP is nearing the conclusion of another five-wave structure that began its formation after the 2017 price drop. His analysis suggests that all four preceding waves have unfolded over the past six years, paving the way for a potential fifth wave that could mirror the dramatic rise witnessed in 2017. XRP is currently trading at $0.48. Chart: TradingView Eric’s audacious prediction hinges on…

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Filed under: News - @ June 23, 2024 4:26 pm