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Experts predict $XRP could see another bullish rally, with potential price targets around $3 depending on key support levels and market movements.
$XRP has been trading within a range for the past few days after dropping from the $2.85 top. Since this seven-year peak, the bears have dominated, pushing the price down to retest the $2.10 level.
Despite this, proponents remain hopeful for a fresh bullish rally that could propel the price past its all-time high. Multiple analysts suggest $XRP may be nearing the conclusion of its stay in the $2 range.
According to “Altstreet Bet,” $XRP is “going at it again,” referencing a chart showing an impending breakout after four days of consolidation. The analyst predicted a giant wave could take $XRP back to the $3 price range.
MichaelXBT, a charting expert, shared a similar viewpoint. He highlighted that $XRP is currently retesting a broken channel as support, with the next upward move likely to begin soon.
Meanwhile, technical analyst Casi Trades provided a detailed analysis of $XRP’s next movement, outlining two potential scenarios for its future price action.
First Scenario for $XRP Future Price Movement
In the first scenario, known as the ABCDE scenario, Casi suggests that if $XRP finds support at the 0.236 Fibonacci retracement level (around $2.312), the next wave could propel the price to $3.74.
This price target represents the 0.618 extension of the 5th wave, a strong signal of bullish momentum. According to Casi, a breakout above $XRP’s all-time high ($ATH) would likely occur, followed by a test of that support level, paving the way for further gains.
Second Scenario for $XRP
The second scenario, the ABC path, involves a deeper correction. Specifically, Casi projects that $XRP will complete the C wave between the 0.382 retracement levels, with a dip to $1.94–$2.04. For context, $XRP is currently trading at $2.29.
Should this dip occur, $XRP’s next move would likely align with the $3.50 price point. A break above this level, coupled with a successful retest of support, would signal the potential for a more massive surge.
Casi’s outlook is highly optimistic, suggesting that the $ATH run is well within reach and that the bull run up to the current position may just be the beginning of a major upward trend. She emphasized that the crucial price levels between $3.50 and $3.74 will be pivotal in setting the tone for $XRP’s next major move.
According to her, a clean break of the $ATH, followed by a support test, would be the ideal scenario for $XRP rather than encountering heavy resistance at these key levels.