XRP Price Prediction & Analysis: This Chart Pattern Suggests Rally to $12
By: coin central|2025/05/05 16:15:01
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TLDRXRP price could reach $12 by 2026 according to Elliott Wave pattern analysisRipple whales have accumulated over 440 million tokens in the past monthA falling wedge pattern on the four-hour chart suggests a potential breakout past $2.36The $2 level is currently serving as a key support for XRPDerivatives data shows caution as long positions faced liquidations of $4.89 millionXRP is trading at approximately $2.17 as of May 5, 2025, down 5% last week due to a lack of major catalysts. However, technical analysis and whale activity suggest that Ripple may be preparing for a substantial rally in the coming months.XRPXRP PriceAccording to Elliott Wave analysis, XRP has completed a corrective pullback phase between the $2.05 and $1.65 range. This pattern indicates that Ripple is preparing for the third wave, which is typically characterized by a strong and long uptrend.Analyst EWCycles predicts a target price of $12 for XRP, representing a 2,900% surge that could occur between 2025 and 2026. This would mean a 5 to 6 times increase from current price levels.The rally depends on XRP forming new higher highs and higher lows. An ascending channel appears to be emerging, and as long as the altcoin trades within this range, it aims for a strong uptrend.$XRP really looking forward for this upward continuation! Soon the extensive move will form to make this one a double-digits crypto. Target is the same since before it broke out => around $12.#Elliottwave #XRP pic.twitter.com/z0LzNl5irL— EWT (@EWcycles) May 4, 2025Whale Accumulation Points to Bullish OutlookOn-chain data reveals major accumulation by XRP whales over the past month. Addresses holding between 1 million and 10 million XRP have purchased 190 million tokens, while those holding between 10 million and 100 million have accumulated 440 million tokens during the same period.Whales typically buy when prices are low in anticipation of price increases. This accumulation trend aligns with the Elliott Wave analysis suggesting XRP could reach double digits.Despite this bullish outlook, on-chain intelligence platform Santiment shows a decline in whale transactions valued at $100,000 and higher, as well as those greater than $1 million. This decrease typically signals a loss in interest.However, aggregate funding rates for XRP show positive readings since May 1, after closing April with two consecutive days of negative funding rates. Positive funding rates usually indicate that the price of derivatives contracts is higher than the spot market price, which is bullish for the token in the medium to short term.Short-term Technical OutlookThe four-hour chart shows XRP may be on the verge of an upward movement as it approaches a breakout from the upper trendline of a falling wedge pattern. To confirm this bullish momentum, the Relative Strength Index (RSI), currently at 43, needs to show increasing buyer interest.If XRP breaks above this resistance, it could rally 7% to $2.36 in the short term, potentially clearing the path to $2.59. Conversely, if the bullish theory fails and XRP loses support at $2.13, it may fall to $1.96.On the daily timeframe, XRP is trading 15% below its target resistance at $2.50, which represents the 50% Fibonacci retracement level of the decline from the peak of $3.40 to a low of $1.61.Two technical indicators on the daily chart support a bullish thesis for XRP: the RSI reads above 54 (the neutral level), and the MACD displays green histogram bars. The $3 level remains a key target for XRP in May 2025.Regulatory DevelopmentsThe SEC vs. Ripple lawsuit appeal deadline has been extended from April 16 to June 15, 2025. Interestingly, the SEC has delayed Franklin Templeton’s XRP ETF approval to June 17, 2025, just after the expiry of the 60-day wait period for the Ripple lawsuit.Bill Morgan, a prominent lawyer, described this timing as “potentially strategic,” expressing bullish sentiments toward an ETF approval in 2025.Dan Tapiero of 10T Holdings has expressed optimism about the XRP ETF launch, noting that despite early criticism, XRP has proven resilient through regulatory challenges.The price of XRP sits at a crossroads, with derivatives data showing that traders should proceed with caution. The 24-hour liquidation totals $5.24 million, with $4.89 million being long positions, indicating that bullish traders have faced losses.The post XRP Price Prediction & Analysis: This Chart Pattern Suggests Rally to $12 appeared first on CoinCentral.
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