The post Expert Says XRP Has Ticked All Boxes to Reach $36 appeared on BitcoinEthereumNews.com.

XRP now trades below the $0.5 price region, but market analyst Tylie Eric believes the crypto asset has fulfilled all conditions necessary for a surge to $36. The crypto market is witnessing a bearish trend due to increased selling pressure. Bitcoin (BTC) has slipped to the $64,000 level for the first time in over a month, triggering a collapse in the broader crypto market. Amid the downtrend, XRP has felt a massive impact. Consequently, the bears have forcefully retaken the $0.50 price territory, relegating XRP to the $0.48 region. As a result, XRP has dropped 5.94% this month, but has shown greater resilience than other altcoins like Ethereum (ETH) and Solana (SOL) which have respectively collapsed by 6.86% and 18.40% within the same timeframe. XRP Trades Within Historical Elliott Wave Structure  Despite being in the red, XRP could be on the verge of recovering lost grounds and subsequently hitting new highs, according to Eric. The market analyst said this in his latest outlook on XRP’s price movements, calling attention to historical trends that previously pointed to substantial price upswings. #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 He pointed out a 5-wave Elliott Wave structure followed by XRP on multiple occasions on the weekly chart. Notably, each time XRP has followed this structure, the fifth and last wave has led to a substantial price increase.  This pattern occurred in early 2017, with the completion of the fifth wave triggering an XRP price rally to the $0.3988 high in May 2017. Remarkably, data from Eric’s chart suggests that XRP had to spike by a massive 7,784% to the $0.3988 price. This surge…

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Filed under: News - @ June 22, 2024 1:28 pm