Analysts Mikybull Crypto and CrediBULL Crypto believe XRP has the potential to reach the $2 mark due to favorable market conditions.
Optimistic Predictions for XRP
Analysts Mikybull Crypto and CrediBULL Crypto forecast XRP to rise to $2 by the end of November. Mikybull Crypto noted that XRP currently has significant potential for growth and may soon start an uptrend. CrediBULL Crypto supported this prediction, stating that XRP is approaching a critical level that could lead to an extended fifth-wave rally, usually associated with major price increases.
Impact of Bitcoin Price on XRP
According to CrediBULL Crypto, the upswing to $2 is only conceivable if Bitcoin remains stable above $94,000. Bitcoin's price plays a decisive role in the overall cryptocurrency market. If Bitcoin falls below this level, it could adversely affect XRP's upward movement. XRP is in a critical zone and may continue to rise if BTC maintains an upward trajectory.
Long-term Forecast by Elliott Wave Theory
Using Elliott Wave Theory, analysts project long-term bullish potential for XRP to reach $13. Currently, XRP is in the fourth corrective wave of a larger bullish structure. The next phase, wave 5, could take XRP into a price discovery model with short-term targets around $3.80–$4.20.
Analysts believe XRP's price has the potential to rise due to market enthusiasm and technical indicators. Monitoring Bitcoin's stability is crucial as it may influence the future development of the situation with XRP.
