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Analyst Predicts XRP Price Rebound To $2.60, Here’s How
Crypto analyst CasiTrades has provided some optimism as she predicts that the XRP could rebound to as high as $2.60. This came as she revealed that the crypto has found its local bottom.
XRP Price Rebound To $2.60 On The Cards
In an X post, CasiTrades predicted that the XRP price could rebound to $2.60. She stated that XRP had found its local bottom and held strong without making a new low below Wave C.
She remarked that this is key for the D wave. While analyzing the sub-waves left in the D wave, CasiTrades stated that her next targets are $2.25 and $2.40.
She expects this wave to extend toward $2.40, with the final 5th subwave reaching $2.60 to complete the D wave. The analyst added that she would closely watch how the subwaves form and how the price behaves around $2.60.
CasiTrades also mentioned that a resistance at $2.60 is expected, but there is a chance that the E wave will fail and XRP will push into new highs earlier than expected.
Meanwhile, the analyst’s accompanying chart showed that XRP could dip to $2.3 on the E wave and then rebound to as high as $2.80. This rebound to $2.80 could then pave the way for the crypto to rally to new highs.
Crypto analysts like Ali Martinez have also provided a bullish outlook for the XRP price heading into the new year. The crypto analyst predicted that the crypto could rally to as high as $11 in 2025.
Analysis Of The Bull Market Support Band
In an X post, crypto analyst Egrag Crypto provided an in-depth analysis of the Bull Market Support Band (BMSB). He stated that the bulls are fiercely defending the BMSB.
The analyst noted that when the BSMB surpasses $2, it signifies a strategic advantage. In line with this, he remarked that as long as the XRP price remains above $2, the BMSB should ideally catch up and stabilize above this level.
Egrag Crypto further remarked that achieving this would be a tremendous gift at the start of 2025, demonstrating that the Bears are unable to push prices below $2 due to the strong defense from the Bulls.
The crypto analyst has high expectations for the XRP price in 2025, predicting that the crypto could reach $27 next year. He explained that such a parabolic rally could happen since XRP witnessed a 50,000% in 2017.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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