Crypto Analyst Ekrag Crypto, claiming that the XRP price could rise up to $ 66 this year, he estimated a very optimistic prediction. Analyst explained the possibility of achieving this goal with Elliott wave theory and said that his analysis was based on mathematical foundations rather than speculative forecasts. Here are the details…
Rise scenario for $ 66 for XRP price
In his sharing on the social media platform X, Ecrag Crypto said that the XRP price could rise between $ 20 and $ 66. Analyst drew attention to the rise rates between the waves using Elliott Wave Theory to support this estimation. According to the analyst, the XRP’s first wave movement increased by 510 percent. Based on this rate, other wave movements can be calculated. The second wave, which is a corrective wave, has a formation that the analyst has not yet determined. However, the XRP price often passes through an expanded and irregular correction wave.
According to Ecrag Crypto, at the end of this corrective wave, the XRP price can go below $ 1,77 and this can be perceived as a “bull trap .. However, in order to complete the correction, a “bear trap” may be required to form between $ 3.7 and $ 3.9. Analyst warned investors that the price may have a decrease of more than 50 percent in this wave process.
Wave 3 and 4 scenarios
Analyst said that the XRP price would catch the highest acceleration in the third wave movement and can see an increase of 800 to 1,000 percent. This may cause the price to rise between $ 17 and $ 20. The fourth wave movement shows that the price of XRP may experience a withdrawal of 14.6 to 38.2 percent. With the fall of the volume in this process, new investment opportunities are expected to emerge. Analyst stressed that the XRP price may fall between $ 6 to 7 dollars and that this may be challenging for investors.
Fifth Wave: XRP can reach $ 66
According to Elliott Wave Theory, the fifth wave movement often represents the last ascension movement of the trend. At this stage, Ekrag Crypto predicted that an extremely positive atmosphere will occur in the markets and the XRP price could rise up to $ 66. Analyst said that calculations based on 1.236 to 1,618 reverse fibonacci levels show that the price can reach a target between $ 20 and 29. In addition, the first wave of the increase in 510 percent of the XRP can reach $ 44, he said.
Finally, calculations based on the 61.8 percent fibonacci ratio in the first and third waves position the XRP price for $ 66. According to the graph shared by the analyst, the XRP price can reach this level between March and May. Attentionally, the law expert Matt Hougan predicts that the case between Ripple and SEC may result in April or May. This may be a catalyst for the XRP price to experience a paraboolic rise.
