XRP Price Prediction: Two Possible Scenarios for XRP's Price Direction

XRP is currently trading in the green at $2.22. Market analysts are watching closely, as recent movements have opened up the possibility of further gains.

output: Recently, XRP has been showing strength, trading in the green at $2.22 as market analysts follow its movements closely. A recent analysis of the altcoin’s 4-day chart by an anonymous analyst on cryptocurrency analysis platform , highlights two main possibilities for the direction of XRP’s price.

The Yellow Scenario: A Final High and Correction

The first scenario, highlighted in yellow, is the one the analyst considers more likely. It shows XRP continuing its ascent, potentially reaching a new all-time high before undergoing a major correction.

This structure, described by the analyst, follows a pattern of five waves that began from XRP’s low in 2013. As the analyst explains, this structure could then be followed by a correction, potentially pulling the price down to $0.40-$0.50. This level of correction is similar to past behavior seen in the cryptocurrency market.

The White Scenario: Smaller Five-Wave Move

The second, less likely scenario, shown in white, suggests that the current bull market actually started in 2020, not 2013. According to this analysis, XRP is possibly in the final wave of a smaller five-wave move from the 2020 low.

If this scenario plays out, we could see a smaller but still significant correction following the final high. This correction could last for up to a year as the market completes a larger cycle from the 2019 low.

Both scenarios suggest another price increase is expected, especially while XRP manages to stay above the key support level at $1.20. If this occurs, the analyst predicts that XRP could rise to $5.60 or even $6.60.

Short-Term View: Five-Wave Move from April Low

Shifting to a shorter-term view, the analyst notes that XRP appears to be forming a five-wave move from its April low. However, the pattern is not yet fully clear.

If XRP manages to stay above the $2.12 level, then we could see prices continuing to rise. But if we see a drop below that level, then we may be faced with a correction, with the next layer of support seen between $1.84 and $2.10.