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$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. Looking at the 4-day chart, an analyst has said that there are two main possible scenarios for $XRP’s price direction:
1. The Yellow Scenario (More Likely)
This scenario shows $XRP continuing to rise, possibly reaching a new all-time high before undergoing a major correction. This structure follows a pattern of five waves that started from $XRP’s low in 2013. If this plays out, a correction could follow, possibly pulling the price down to $0.40–$0.50, similar to past market behavior.
2. The White Scenario (Alternative)
This scenario shows that the current bull market actually started in 2020, not 2013. $XRP is possibly in the final wave of a smaller five-wave move. If true, a smaller but still significant correction could follow, possibly lasting up to a year.
Despite the uncertainty, both scenarios expect another price increase, especially while $XRP holds above the key support level of $1.20. If this happens, $XRP could rise to $5.60 or even $6.60.
Short-Term Outlook
From a shorter-term perspective, $XRP appears to be forming a five-wave move up from its April low. However, the pattern is not yet clear. If $XRP stays above $2.12, prices could continue to rise. But if it drops below that level, we may see a correction with support between $1.84 and $2.10.