Industry Pundit Outlines 4 Factors That Could Trigger 7,637% XRP Surge
The post Industry Pundit Outlines 4 Factors That Could Trigger 7,637% XRP Surge appeared on BitcoinEthereumNews.com.
Armando Pantoja, a Bitcoin analyst, recently presented four factors capable of triggering a 7,637% price increase for XRP toward the $20 territory. Pantoja, who also serves as a member of Benzinga’s crypto advisory board, recently made these projections in a commentary on X despite the prevailing bearish market condition. Notably, XRP has not escaped the ongoing market bloodbath, now down 8.77% this month, as it retests the $0.47 low. However, the ongoing market dump has not impacted investor confidence. Consequently, bullish predictions have sprung up, with one of the latest ones coming from Pantoja. The market commentator predicts XRP to clinch a two-digit price of $20 in the future, representing a massive 7,637% increase from the current value. Pantoja went further to outline four different factors that could push XRP to this price target, expressing confidence in the ambitious goal. 5 reasons I can CLEARLY see a 7,637% rise in $XRP to $20. – Elliott Wave Structure: #XRP follows a 5-wave pattern leading to price spikes. We are close to completing it. 2017 saw a 7,784% rise post-pattern. – Market Resilience: XRP is outperforming other #altcoins in current… pic.twitter.com/53nOeKnuiY — Armando Pantoja (@_TallGuyTycoon) June 23, 2024 XRP Elliott Wave Structure Pantoja pointed out that XRP is adhering to an Elliott Wave pattern, a common technical analysis tool used to predict market trends by identifying repetitive wave patterns. This pattern was observed in a monthly chart accompanying his disclosure. According to him, XRP is nearing the completion of the current five-wave structure. Historical data supports this analysis, as seen in 2017 when XRP’s price skyrocketed by 7,784% after a similar pattern was completed. This wave theory suggests that once the fifth wave is completed, a significant price surge is likely. XRP’s Market Resilience Despite the ongoing downturn affecting the broader cryptocurrency…
Filed under: News - @ June 25, 2024 6:16 am