XRP Price To $110? Bollinger Bands Creator Reveals Why It Will Become A Market Leader

The XRP price could be staging a parabolic rally to new all-time highs of $110. While an analyst shares a technical analysis to back this ambitious target, Bollinger Bands creator John Bollinger declares XRP to be a market leader in the crypto space. 

Analyst Predicts New XRP Price Target To $110

In a rather lengthy X (formerly Twitter) post, market expert Egrag Crypto went deep into his analysis for the XRP price, basing his predictions on its Elliott Wave structure. The crypto analyst confidently forecasted that XRP was heading towards a new $110 ATH. This bullish target would represent a whopping 3,974% increase from its current market value.

Firstly, Egrag Crypto outlines XRP’s five-wave structure, underscoring that each wave could push the cryptocurrency to a new target. The analyst reveals that XRP is currently in Wave 2 of its Elliott Wave structure and is closely approaching Wave 3, which is expected to trigger the most explosive increase.

In Wave 1, XRP saw an impressive 733% increase to new highs. However, in its current Wave 2, Egrag Crypto highlights that its 2017 fractal appears more profound. With the formation of a Double Bottom pattern, the analyst has predicted a potential price breakdown for the cryptocurrency. 

XRP

Egrag Crypto further forecasts that Wave 3 will trigger a reversal and cause the price to skyrocket by 1,185%. This massive price increase would effectively place the XRP price at a potential target between $22 and $24. For a more conservative target, the analyst estimates a surge of around $22 to $24. 

For Wave 4, Egrag Crypto predicts another major retracement similar to Wave 2. However, this time, the analyst believes XRP could decline by either 14.6%, 23.6%, or 38.2% from Wave 3’s price high. This correction would mark a 65% drop from Wave 3’s peak, bringing the cryptocurrency’s price down to $8. He also highlights a worse-case bearish scenario where XRP crashes as low as $3.4. 

Notably, Egrag Crypto shares three potential bullish targets for Wave 5, the final part of the Elliott Wave Structure. He forecasts that the altcoin could surge between $32 to $48, $60 to $70, or $95 to $110. The analyst has based his optimistic forecast on past cycle trends, where 2017 saw a major price rally for XRP. 

Bollinger Bands Creator Says The Asset To Become Leader

In other news, Bollinger, the creator of the renowned Bollinger Band technical analysis tool, has highlighted XRP in his latest post, questioning whether it could take a leading role in the crypto market. The technical analyst asserts that Ripple has held up better than other primary crypto vehicles.

Considering its legal battles with the US SEC and present regulatory challenges, Ripple continues to remain resilient, aiming to gain clarity during the final stages of the five-year-long lawsuit. Meanwhile, the XRP price, which is currently trading at $2.4, has experienced a recent uptick, increasing by almost 4% in the last day, according to CoinMarketCap.

XRP

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Demand?
The post Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Deman...
READ MORE
default post thumbnail
Chainlink Price Could Run To $31 In The Next Leg Up — Here’s Why
The final months of a market cycle are usually characterized by exhilarating runs by various assets ...
READ MORE
default post thumbnail
XRP $15 Breakout? Not A Far-Fetched Idea—Analysis
After dropping to less than $2 last March 11th, Ripple’s XRP springs back to life and it’s curre...
READ MORE
default post thumbnail
Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin
Shiba Inu’s price action in the past 24 hours has been characterized by a brief recovery after hit...
READ MORE
default post thumbnail
Cardano Is ‘About To Break Free’ – Breakout Above Crucial Supply To Trigger A Big Move–Analyst
Altcoins and Cardano have been caught in extreme market swings, with high volatility and panic-drive...
READ MORE
default post thumbnail
Crypto Weekly Roundup: Trump Courting Binance US, Ethereum Launches New Testnet, & More
Last week, both Rumble and Metaplanet invested heavily in Bitcoin while the U.S. Congress overturned...
READ MORE
Read more posts