XRP’s Journey to $3: A Trader’s Prediction for the Future

Crypto Trader Harry Shares Elliott Wave Analysis for Ripple (XRP) with Warning for Traders to Take Note of Current Situation on Remittance Token's Charts.

Crypto trader Harry has shared his Elliott Wave analysis for Ripple (XRP), warning that traders should take note of the current situation on the remittance token’s charts. In his tweet, the trader added that swing traders may potentially be unable to afford XRP as its price will rise in the coming months. According to the trader, XRP’s price seems to have completed its bearish wave 2 correction recently. He also added that XRP’s price has been printing a fulcrum/double bottom pattern since June of last year in search of a confirmed wave 2 completion.

The trader then went on to say that XRP’s price has closed above the last 30, 60, and 90 day closes and that hedge funds may start looking at buying XRP at this point. Furthermore, wave 3 is starting, and exchange/market maker bias is becoming more correlated to retail holders than it has been for the last few months, according to the trader.

If the trader’s analysis plays out, then traders and investors will have a lot to look forward to as Harry forecasts May will be a good month for XRP holders given the classic bull continuation patterns that are present on XRP’s charts. As a result, the trader believes that XRP’s price will rise to $3, but stated that it will take some time for XRP’s price to reach the $3 mark.

At press time, XRP’s price stands at $0.4764 after slipping 0.60% over the last 24 hours according to CoinMarketCap. Nevertheless, the altcoin’s weekly price performance remains in the green at +1.18%. In addition to weakening against the U.S. Dollar, XRP also slipped 0.44% against BTC and 0.74% against ETH.

It is important to note that the views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Martin Reid

Martin Reid

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