Egrag Crypto, a widely known crypto analyst on the social media platform X, not too long ago shared an optimistic worth prediction for XRP. According to the analyst, technical evaluation of the XRP worth on the weekly timeframe means that XRP is on monitor to achieve a worth goal of $15 by May 5, 2025.
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The evaluation, which is rooted in Fibonacci ranges and Elliott Wave idea, affords a long-term bullish outlook for the altcoin regardless of its latest decline over the previous week. This is as a result of the XRP worth has been on a decline for the reason that previous seven days alongside the rest of the crypto market.
Fibonacci And Elliott Wave Analysis For XRP
According to Egrag Crypto, the Fibonacci 1.618 degree signifies that May 5, 2025, might be a pivotal date for XRP’s worth trajectory in the long run. His technical analysis makes use of auto-Fib time zones and trend-based Fibonacci on the weekly XRP timeframe worth chart.
Interestingly, this timeline aligns closely with the general sentiment surrounding XRP, as many crypto members are at present trying ahead to a surge within the first half of 2025. As such, the analyst additionally famous that it stays unsure whether or not the anticipated surge to $15 will happen earlier than or after this predicted date.
Speaking of worth timeline, the $15 goal relies on precise calculations and the Elliot Wave theory. According to the analyst, XRP is at present in Wave 4, which is the second corrective section within the Elliot Wave idea. Once this section is accomplished, Wave 5 is predicted to be the following main transfer. Wave 5 is historically recognized for being the third impulse wave that pushes the asset’s worth to new highs.
To estimate the magnitude of Wave 5, the analyst examined the efficiency of the earlier impulse waves 1 and three. Notably, Waves 1 and three had been highlighted by worth will increase of 63.39% and 570%, respectively.
Using these figures, Egrag Crypto utilized a typical Elliott Wave precept that means Wave 5 typically equals 61.8% of the mixed features of Waves 1 and three. By making use of this faculty of thought and punching within the numbers, Wave 5 is predicted to end in an approximate worth enhance of round 391% for XRP. In phrases of a worth goal, this interprets to a worth vary round $15.
Is A Long-Term Bullish Trajectory Still Valid For XRP?
Despite XRP’s present decline over the previous seven days, mirroring a broader market downturn, this technical evaluation gives a counterpoint to the short-term bearish outlook. Particularly, XRP has been on a decline because it peaked at $2.82 on December 3.
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At the time of writing, XRP is struggling to reclaim the $2.20 worth degree and remains to be facing selling pressure among some holders. Nonetheless, the cryptocurrency’s fundamentals point bullish, and it might simply resume its worth surge anytime quickly.
At the time of writing, XRP is buying and selling at $2.18
Featured picture from Outlook Business, chart from TradingView
