XRP trades at $2.22 with bullish momentum; analysts see potential for $5.60–$6.60 if key support at $1.20 holds firm.
Two price paths emerge: a long-term rise from 2013 or a shorter 2020 wave—both suggest gains before a possible correction.
XRP is currently trading in the green at $2.22. Market analysts are watching closely, as recent movements have opened up the possibility of further gains. Looking at the 4-day chart, an analyst has said that there are two main possible scenarios for XRP’s price direction
1. The Yellow Scenario (More Likely)
This scenario shows XRP continuing to rise, possibly reaching a new all-time high before undergoing a major correction. This structure follows a pattern of five waves that started from XRP’s low in 2013. If this plays out, a correction could follow, possibly pulling the price down to $0.40–$0.50, similar to past market behavior.
2. The White Scenario (Alternative)
This scenario shows that the current bull market actually started in 2020, not 2013. XRP is possibly in the final wave of a smaller five-wave move. If true, a smaller but still significant correction could follow, possibly lasting up to a year.
Despite the uncertainty, both scenarios expect another price increase, especially while XRP holds above the key support level of $1.20. If this happens, XRP could rise to $5.60 or even $6.60.
Short-Term Outlook
From a shorter-term perspective, XRP appears to be forming a five-wave move up from its April low. However, the pattern is not yet clear. If XRP stays above $2.12, prices could continue to rise. But if it drops below that level, we may see a correction with support between $1.84 and $2.10.
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FAQs
If XRP falls below $2.12, a correction may occur, with support seen around the $1.84 to $2.10 range.
A drop below $2.12 could lead to a correction, with support levels between $1.84 and $2.10. Investors should monitor these levels closely.