A crypto analyst predicts that XRP, having broken out of its long consolidation phase, may be poised for a major price rally, potentially reaching $3.4. This marks the end of an 11-year SuperCycle.
Skyrexio, a TradingView analyst, supports the idea of XRP's surge using the Elliott Wave Theory. This technical indicator analyzes recurring long-term price patterns and suggests XRP is in the final Wave 5.
Despite a challenging legal battle with the SEC causing prolonged sideways movement, XRP has recently experienced a price breakout. Skyrexio identifies bullish signs including a reversal bar and a green dot signaling a potential upward trend.
XRP's recent performance also backs a bullish sentiment. Following Donald Trump's win in US presidential elections, XRP rallied by over 100%, breaking resistance levels and drawing broader crypto community attention.
Historically, Wave 5 experienced a higher high than Wave 3, providing optimism for XRP to rise between $2.5 and $3.8. Analyst's bullish forecast considers these historical patterns and current market indicators.
