XRP Price Crash Looms Before Potential Surge to New Highs

by

🚨 XRP Price Hints At Symmetrical Triangle, But Will It Crash First? 🚨

In the rarefied realm of cryptocurrency, where fortunes are made and lost with the swiftness of a gazelle on a pogo stick, the XRP price has been behaving like a tantalizing tease. It’s as if the crypto is saying, “Come hither, dear investor, and I’ll give you the world… or at least, a symmetrical triangle that hints at a bullish outlook.” But, alas, CW23, the esteemed crypto analyst, warns us that a price crash could occur before XRP breaks out of this triangle and rallies to the upside. Ah, the eternal conundrum of the crypto world: will it be a bull or a bear?

In a TradingView post, CW23 revealed that a symmetrical triangle may be forming for the XRP price, much like a delicate flower blooming in the desert. This came as he noted that XRP is bouncing off the bottom of an ascending channel, with the pinbar candle on the 4-hour chart now in upward pressure, having tested the bottom. It’s as if the crypto is saying, “I’m not done yet, I’m just getting started… or am I?” The analyst added that the crypto will probably trade in this range for a while, much like a cat in a bathtub, refusing to get out.

However, CW23 stated that a symmetrical triangle is forming and it could be a larger wave 4 pullback in the Elliot wave before wave 5 takes the XRP price to a new all-time high (ATH) to round out this year’s bull cycle. Ah, the eternal optimism of the crypto world! The analyst’s accompanying chart showed that XRP could drop to as low as $1.70 on wave 4. Meanwhile, the asset is projected to rally to a new ATH of $5 on wave 5. It’s as if the crypto is saying, “I’ll drop you, but I’ll make you rich in the end… or will I?”

Other crypto analysts, like ElmoX and Dark Defender, have also weighed in on the XRP price. ElmoX predicted that the XRP price could witness a massive corrective and drop below $2 before it rallies to new highs. Ah, the eternal drama of the crypto world! The analyst provided a more bullish outlook for XRP, predicting it could rally to as high as $20 in this market cycle. However, he warned that the crypto would face major resistance at $2.9 on its way to a new ATH. It’s as if the crypto is saying, “I’ll take you to the moon, but first, let’s take a detour through the valley of despair.”

The Altcoin Has Finalized Its Correction

In an X post, crypto analyst Dark Defender stated that the XRP price has finalized the correction on the four-hour time frame. Ah, the eternal relief of the crypto world! He mentioned that XRP is expected to move towards $2.42 first, considering the correction structures. The analyst also affirmed that the real move to the upside will start after XRP climbs above the Ichimoku clouds. It’s as if the crypto is saying, “I’m done with the correction, now let’s get this party started!”

Dark Defender highlighted $2.22 and $2.04 as the support levels to watch out for while he stated that $4.2932 and $5.8563 are the targets which the XRP price could rally to. Crypto analyst CasiTrades highlighted the importance of the altcoin holding the support levels at $2.04 and $2.11. She added that a hold above either of these levels is critical to maintaining the consolidation. Meanwhile, the analyst revealed that the next resistance levels are $2.25 and $2.70, which happens to be the next breakout level. CasiTrades also assured market participants that the price is still bullish, indicating it is still well primed to reach new highs. It’s as if the crypto is saying, “I’m still got it, don’t worry, I’ll make you rich!”

At the time of writing, the XRP price is trading at around $2.24, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Read More

2025-03-14 06:41