Analysis Suggests $15 By May 2025
Egrag Crypto, a well-known cryptocurrency analyst on social media platform X, recently shared an optimistic price prediction for XRP. The analyst said that technical analysis of XRP price on the weekly time frame suggests that XRP is on track to reach the $15 price target by May 5, 2025.
Related reading
The analysis, rooted in Fibonacci levels and Elliott Wave theory, offers a long-term bullish outlook for the currency despite its losses over the past week. This is because the XRP price has been declining Since the past 7 days Along with the rest of the cryptocurrency market.
Fibonacci and Elliott Wave Analysis of XRP
According to Egrag Crypto, the 1.618 Fibonacci level indicates that May 5, 2025, could be a key date for XRP’s long-term price trajectory. his technical analysis Use automatic Fibonacci time zones and trend-based Fibonacci on weekly XRP time frame price charts.
Interestingly, this timeline Integrate with general emotions Around XRP, many cryptocurrency players are currently anticipating a surge in the first half of 2025. Therefore, analysts also note that it is still uncertain whether the expected surge to $15 will occur before or after this forecast date.
Speaking of price schedules, the $15 target is based on actual calculations and Elliott wave theory. According to analysts, XRP is currently in Wave 4, which is the second corrective phase of the Elliott Wave Theory. Once this phase is complete, Wave 5 is expected to be the next big move. Traditionally, the fifth wave is known as the third shock wave that pushes asset prices to new highs.
To estimate the strength of Wave 5, analysts examined the performance of the previous shockwaves 1 and 3. It is worth noting that the price increases in Wave 1 and Wave 3 were 63.39% and 570% respectively.
Using these numbers, Egrag Crypto applied the common Elliott Wave principle, which states that wave 5 is typically equal to 61.8% of the sum of the gains from waves 1 and 3. By applying this school of thought and plugging in the numbers, Wave 5 is expected to cause the price of XRP to increase by around 391%. In terms of price targets, the price range is around $15.
Is XRP’s long-term bullish trajectory still valid?
Although XRP is currently trading lower over the past seven days, reflecting the broader market downturn, this technical analysis contrasts with the short-term bearish outlook. In particular, XRP has been declining since peaking at $2.82 on December 3.
Related reading
As of this writing, XRP is struggling to regain the $2.20 price level and is still Under selling pressure some holders. Nonetheless, cryptocurrency’s Fundamentals are bullishand it’s likely to resume its price surge soon.
As of this writing, XRP is trading at $2.18
Featured image from Outlook Business, chart from TradingView
