Altcoin XRP forms Elliott Wave on the weekly price chart.
A potential bullish divergence lies ahead for XRP price.
Can Ripple’s XRP go on to set a new ATH this year?
Several altcoins continue to show promising price pump indicators across their various price charts, allowing analysts to remain bullish over price surge expectations and the possibility of the altseason peak phase to play out over the coming weeks and months ahead. Presently, altcoin XRP forms Elliott Wave on the weekly price chart, marking highly bullish price divergence to occur soon.
Altcoin XRP Forms Elliott Wave on the Weekly Price Chart
Of the many bullish altcoins in the crypto market at the moment, Ripple’s XRP remains one of the most bullish altcoins in the space, despite its failure to reclaim its previous ATH price from 8 years ago during the latest bull cycle pump. After its bullish victory against the SEC, analysts were hoping for a parabolic price surge to new ATH prices. Yet, XRP only saw two significant surges, followed by a drop which is playing out now.
https://twitter.com/protechtor/status/2044660666561392841
Despite the falling price of the promising altcoin asset, the XRP price chart continues to print several bullish signals across its price chart. One of which is explored in heavy detail in the post above, which is the Elliott Wave formation on the XRP weekly price chart. The post begins by walking readers through where he believes XRP is at a count where the highest probability move will be coming next.
In a brief history, he explains how XRP spent 2018 - 2024 in a high timeframe symmetrical triangle. So, over 6 years, XRP burst up from the triangle in late 2024 in a clear, impulsive 5 wave pattern. Since then, it has been in a 3 wave expanded flat correction. This flat is at the same timeframe/degree as the 5 wave impulsive move that preceded it, and it is done or nearly done. Thus, XRP is in the middle of a range of support
At a minimum, there is a high probability XRP will have another 5 wave impulsive move up that ends above the recent high near $3.70, at the same degree as the correction that has been going on over a year. The completion of this movement could propel the price of XRP to $6 and perhaps even to $8 and $10 ATH targets. After that, XRP will see either a high timeframe correction over multiple years or another correction at the same degree as a previous wave.
Potential Bullish Divergence Ahead
https://twitter.com/jaydee_757/status/2044509910772466166
Meanwhile, another bullish XRP enthusiast highlights another serious pump indicator on the XRP price chart which is a potential bullish divergence with a falling wedge pattern leading to a potential breakout. If the falling wedge breaks with volume, the expert expects an updated green box as highlighted on the chart accompanying the post, a formation that will send the price of XRP to new ATH targets.