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XRP and Elliott Wave: Opportunities for Price Surge to $110

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by Giorgi Kostiuk

6 hours ago


Crypto analyst EGRAG asserts that XRP could experience significant growth by echoing the 2017 surge and following the Elliott Wave structure.

Elliott Wave Pattern and Price Projections

Analyst EGRAG identified a strong similarity between XRP's current Elliott Wave pattern and the price actions of 2017, suggesting a potential increase to $24-$110. The asset is currently in the volatile second wave, which precedes the third wave's anticipated surge.

Current Market Position and Potential Breakout

EGRAG identifies a 'just do it' formation, comparable to the Nike swoosh, within XRP's current price action, pointing to a possible breakout pushing prices to $13. Despite short-term bearish pressure, XRP remains within the broader Elliott Wave cycle.

Similarities to XRP’s 2017 Rally

EGRAG's forecast is supported by comparisons to XRP's 2017 rally. The current cycle's Wave 1 mirrors 2017's, with Wave 2's retracement being much less severe. If the pattern persists, Wave 3 could reach $22-$24.

EGRAG’s analysis suggests XRP has the potential for significant growth by following the Elliott Wave structure, should current projections hold.

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