As we see a further continuation of yesterday's April 14 consolidation, the XRP token price is up 13.44% weekly. However, over the last 30 days, XRP has lost 9.67% of its value.
XRP has seen a positive few days as its value has kept growing; however, as of today, that growth has stopped. Currently, the price of XRP trades at $2.14, which is less than a 1% change from 24 hours ago.
As such, for the XRP price surge to continue, internal or external bullish catalysts are needed. Another way to reach an XRP price prediction is to analyze the price action and the history of price movements. This way, you can identify if XRP is repeating the same patterns. As such, we have bullish XRP news from an investor who has used this method.
Is XRP Headed for a New All-Time High or a Correction?
As we see a further continuation of yesterday’s April 14 consolidation, the XRP token price is up 13.44% weekly. However, over the last 30 days, XRP has lost 9.67% of its value. Additionally, the price seems to be really stable as its 24-hour range starts from $2.11 and goes to $2.17. The current value is also 44.07% lower than the $3.84 all-time high, which was hit on January 4, 2018. However, based on the technical XRP price prediction, we could see a new all-time high.
Based on the price analysis from a crypto expert named CasiTrades, the price of XRP has moved to the C Top. This breakout was caused by the XRP’s brief move to the 0.382 Fibonacci retracement. The $2.24 is in line with this Fibonacci level. Casie believes that this level represents the high boundary of a three-wave ABC pattern. This means that XRP will likely see a short-term correction and fall in value. Such a perspective and downtrend projection are also based on the bearish signals coming from the RSI.
Can the Golden Fibonacci Level Trigger the Next XRP Rally?
Based on her XRP price prediction, we are now going to see wave 2 of the ABC waves. In this corrective level, XRP could fall to two important retracement levels at $1.90 and $1.55. These two are represented by the 0.5 and .618 Fibonacci retracements. Casie called the 0.5 Fibonacci retracement the critical backtest area, and the .618 is called “the golden Fib retrace”. She also commented on these levels, “Either one of these major supports could be XRP’s next pivot.”
As seen in Chart 1, the Fib levels we mentioned are marked as significant support levels. Based on her XRP token price projection, the general bullish structure remains intact in XRP price movement. However, a fall to these supports could help the price for a big pivot. As such, she also has defined the targets for this projected pivot to a rally. Based on her analysis, an XRP price surge to $6.50, $9.50, $13, and $26 is possible. This comes as part of her Elliott Wave Theory, as she mentions that these prices are the wave three extension target.
CasiTrades also mentioned that a breakout to $3.40 is needed to confirm a new bullish trend. If an XRP price surge to even $6.50 does not seem very likely, you can consider the first target of $3.40. The recent XRP news about the possible launch of its ETFs and a possible integration with SWIFT could also push XRP higher. As such, with big fundamental developments coming and technical features supporting bullish momentum, the future of XRP seems bright.
