XRP price has surged by 20%, reaching $1.84 continuing its impressive rally. The upward movement aligns with Elliott Wave Theory, suggesting that XRP is currently in its powerful third wave.
This phase is often considered the most significant and strong part of an upward trend, hinting that the cryptocurrency could continue its climb in the upcoming days. With this, XRP has also reclaimed the significant milestone of $100 billion market cap.
The rally began after XRP broke the $1.00 barrier, making the start of the first wave. It then consolidated around $1.30, forming the second wave. Now, with strong momentum and increasing trading volume, XRP appears to be in its third wave.
A phase that typically drives prices higher than previous movements, attracting more buyers and boosting optimism in the market. The next key resistance level to watch is $1.90.
If XRP breaks through this, the price could reach $2.00, a critical psychological level and start approaching its all-time high of $3.12. The rally is expected to continue with the long-term target ranging between $3.00 and $5, depending on market conditions.
However, there are risks to consider decline below $1.30 could challenge the wave structure and signal a weakening trend. But as of now, XRP’s momentum remains strong, with solid support around the $1.30 level.
For investors, the upcoming days are crucial. Keep an eye on $1.90 for potential breakout opportunities and monitor for any sign of correction. If XRP continues to rise the $2.00 mark could be next in line for a major breakout.
Also Read: XRP Lawsuit: US Judge Approves Ripple’s Judgment Request
