Crypto strategists believe that XRP, a payments-focused alternative coin, is poised to experience massive gains.
Credible, a pseudonymous analyst on social media platform X tells 448.500 of his followers that XRP is gearing up to launch wave three in its five-wave rise on the chart for the last four hours.
The Elliott Wave Theory is a credible practice. It states that an asset in a bullish trend will tend to experience a five wave rally, where the third wave represents the largest and steepest portion of the rally.
Credible has shared a chart which shows XRP’s five-wave rise to $20.
For non-traders you only need to zoom in a bit so that you do not forget the bigger picture.
The structure on the XRP chart looks so clean and bullish that it is actually crazy.
It’s not important what happens in these smaller timeframes. The big picture looks incredibly bullish .”
XRP, at the time of this writing, is currently trading for $2.44. This indicates a possible rise of 719 % if the altcoin reaches the huge price target.
Credible, zooming in on the chart, believes that XRP could revisit a level of support below $2 prior to soaring to new highs.
Anyone looking to enter should take advantage of any retests in that zone.
“Ideally, you get what’s shown in the picture.”
According to the chart of the trader, it appears that he predicts that XRP first will rally above $3 and then experience a sharp correction.
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Images Can Be Found on Pixabay Creative Commons & Midjourney
The post According to a Veteran Trader, ‘Insane 719% Rally For XRP In the Cards Amid Clean Bullish Techncial Setup’ may be updated as new information becomes available.
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