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XRP Price Could Reach $8-10? Analyst Highlights Key Mathematical Chart Patterns
Ripple’s cryptocurrency, XRP, has been gaining attention recently due to bullish forecasts from prominent analysts. In a recent report, Blockchain Backer, a well-known crypto analyst, presented compelling mathematical chart patterns that suggest XRP could potentially reach the $8-$10 range.
According to Blockchain Backer, the projected surge is based on Fibonacci models and historical price behavior. The analyst highlights key chart patterns that are crucial in determining the cryptocurrency’s future direction. Notably, the 4.236 Fibonacci extension level plays a significant role in this forecast.
Meanwhile, Ali Charts, another prominent analyst, noted on Twitter that whale activity has remained subdued over the past week, with no substantial buying or selling observed. This lack of significant buying pressure could contribute to XRP’s upward trajectory.
It is essential to note that the realization of these price targets depends heavily on Bitcoin reaching around $127,000, as highlighted by AInvest. This underscores the interdependence between major cryptocurrencies like XRP and the flagship cryptocurrency, BTC.
Interestingly, some analysts have also proposed a more aggressive scenario where XRP could reach an astonishing $77.7. Using Exponential Fibonacci models and Elliott Wave theory, this forecast outlines a multi-phased path that would take the cryptocurrency to these ambitious targets.
Source: https://www.crypto-news-flash.com/xrp-price-could-reach-8-10-analyst-highlights-key-mathematical-chart-patterns/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-price-could-reach-8-10-analyst-highlights-key-mathematical-chart-patterns
