XRP price has recently demonstrated a sideways price action, deviating from the overall trend witnessed across the cryptocurrency market and altcoins.
Despite a modest 2% growth in the past 30 days, with prices ranging between $0.6427 and $0.5994, a crypto analyst operating under the pseudonym James Crypto has made a bold prediction based on Elliott Wave Theory’s interpretation of XRP’s monthly chart.
Grand 5th Wave And Potential Rally For XRP Price
James Crypto points to an intriguing possibility of XRP price entering a grand 5th wave, drawing attention to the extended durations of Wave 1 and Wave 3.
The Elliott Wave Theory, developed by Ralph Nelson Elliott in the 1930s, is a technical analysis tool widely used to forecast future price movements in financial markets.
The theory suggests that price movements unfold in recurring wave patterns, which can provide insights into potential future trends.
According to the theory, a complete market cycle consists of five waves,
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