XRP Price Prediction: XRP/USDT Weekly Chart Analysis Shows an Elliott Wave Progression Targeting $3.73 and Possibly $7.56

A weekly analysis of the XRP/USDT chart reveals an Elliott Wave progression, where Wave 1 peaked at $1.96, followed by a corrective Wave 2 that bottomed out at $0.30.

The subsequent bullish trend began with Wave (i) at $0.38.

Wave (iii) extended above $2.90, indicating strong upward momentum. Wave (iv) consolidated near $2.42 and Wave (v) could target $3.73 (200% Fibonacci extension) and potentially $7.56 (261.8%).

These levels marked strong resistance and potential highs.

Despite broader market downturns, XRP's price action held well, indicating resilience. The structure suggests XRP could achieve new ATHs once BTC forms a bottom.

A sharp dip near $2.25 was followed by recovery to $2.30 and a brief rally above $2.35. XRP showed resilience despite $525M market liquidations.

XRP's higher lows suggest strong buying interest, with $2.25 acting as firm support.

As XRP and BNB led gains, further upward momentum could push XRP beyond $2.35. Strong resistance and sustained buying would determine the next move.

Whales Sell 60 Million XRP Tokens

Further analysis shows that whales sold 60 Million XRP recently, influencing noticeable changes in price trajectory.

The altcoin saw a consistent decline in large wallet holdings of 10 Million to 100 Million XRP during this period.

XRP's price peaked near $2.43, reflecting bullish activity before a downward correction.

Following the peak, the price dropped to around $2.29, revealing increased selling pressure that disrupted the upward momentum.

A significant accumulation phase began in late December, coinciding with a brief rally. This rally indicated temporary optimism before heavy selling resumed.

If whales continue selling at similar volumes, the price could test lower support levels.

However, renewed accumulation by large investors could push the price back toward $2.40 or beyond.

The reduction in whale holdings aligns with broader market uncertainty, signaling potential for continued volatility. These whale activities are crucial for predicting XRP's near-term direction.

Key Conditions to Watch

Multiple conditions are necessary for XRP holders to consider selling, including the settlement of the Ripple Vs SEC Case, launches of the Ripple IPO, approval of XRP ETF, and XRP reaching all-time highs.

Past events showcase XRP's response to macroeconomic and regulatory triggers. These key events are crucial for XRP's long-term price movements.

They could significantly boost investor confidence and drive the price upwards.

Additionally, conditions like Bitcoin reaching $150k, multiple countries launching Stablecoins on XRPL, Tokenization of Real World Assets on XRPL were identified as vital triggers.

The Trump Inauguration and US Legislation could provide potential price catalysts. If all these conditions are met, XRP could witness sustained growth and potentially surpass previous price records.

While many conditions remained unmet, the chart strongly emphasizes a cautious approach.

It highlights that premature selling might result in missing out on significant profits from future market shifts. Reaching these milestones could likely justify holding onto XRP tokens.