XRP Price Prediction: Will It Rocket Skyward Before 2023 as Elliott Wave Theory Suggests?

Climbing from the depths of a bearish valley, the native cryptocurrency token of the XRP Ledger (XRPL), XRP, is ready to spread its wings and take flight.

After enduring a prolonged downturn, XRP, the native cryptocurrency of XRP Ledger (XRPL), might finally be preparing for a significant rally. This is according to a well-known crypto analyst who has been closely following key indicators.

In a June post on platform X (formerly Twitter), crypto analyst Tylie Eric shared his bullish predictions for XRP. Known for his prescient analysis and unwavering belief in the digital currency’s potential, Eric highlighted XRP’s potential to soar before the year’s end. His conviction was evident in a XRP price chart he shared, which meticulously plotted the token’s price movements from 2014 and projected them into 2025 with domino-like precision.

Eric’s analysis suggests that XRP has met all the stringent preconditions for a potential bull run to new highs. According to his analysis, XRP is navigating the twists and turns of “wave 3 and wave 5,” two integral phases of the Elliott Wave Theory.

The Elliott Wave Theory serves as a reliable compass for navigating cryptocurrency’s choppy price movements, identifying recurrent long-term price patterns. This theory, combined with Eric’s detailed analysis, suggests that XRP is currently displaying patterns similar to those observed during its 2017 bull run.

In that year, XRP experienced a seismic price rally, ultimately reaching an all-time high of $3.84 by the following year. With the evidence so strikingly similar, Eric posited that XRP’s current price actions were mirroring those bullish conditions of yesteryears.

Consequently, he projected a substantial price surge for XRP to an eye-popping $36.36 before 2024 winds up. This projection would require a monumental 7,637.22% price surge to reach the projected target.

Eric, though a cryptocurrency analyst by trade, wears his allegiances on his digital sleeve, being a relentless supporter of XRP. The analyst’s predictions for the cryptocurrency have consistently painted a bullish picture, hopeful for the long-awaited rebound from bearish sentiment.

However, XRP’s current narrative unfolds a somewhat drab tale. Its price today dances around $0.45, marking a 4.12% drop in the last day and a considerable 11.71% tumble in the recent month. The cryptocurrency has been nose-diving relentlessly from early June, trading below $0.5, with its current downward trajectory fueled by market volatility and the ongoing legal cloud with the United States Securities and Exchange Commission.

Yet, despite its grim narrative, there’s a silver lining on XRP’s horizon. The bullish sentiment among crypto analysts continue to grow for the embattled cryptocurrency. Notably, ‘Egrag Crypto,’ another crypto analyst, predicted the token inching closer to the Fibonacci (Fib) 1.618 – a potential indication of forthcoming areas for a price reversal or continuation for XRP.

Egrag Crypto too shared his own price chart tracing XRP’s journey from 2014 to 2024. Echoing Eric’s sentiments, he too emphasized that if history vowed to repeat itself, a potential price surge to $27 would change the landscape. This optimistic projection has hyped investors to anticipate a major comeback for XRP.

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