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According to technical analyses, XRP may be preparing for a significant price surge. Based on Elliott Wave Theory from Egrag Crypto, XRP could potentially reach $66, depending on market conditions. The analyst emphasizes that wave structures play a critical role in determining price movements, and this bullish expectation is evaluated considering mathematical calculations and market dynamics. Technical indicators and ongoing legal processes are key factors that investors must closely monitor.
What Do Wave Movements Mean for XRP?
Egrag Crypto’s analysis suggests that wave theory provides significant insights into XRP’s past price movements. The approximate 510% increase observed during the first major wave serves as a benchmark for estimating the size of subsequent waves. The analyst notes that each wave movement develops in relation to its predecessors.
During the second wave process, XRP entered an irregular and expanding corrective formation, characterized by pullbacks exceeding 50%. In the third wave, analysts expect a stronger upward movement with a 1.618 expansion ratio. The fourth wave may see price corrections at certain levels, which could create new buying opportunities for investors.
How Will Legal Processes Affect XRP?
In addition to technical analyses, legal developments could also be a decisive factor for XRP’s price. Legal proceedings, particularly those related to XRP, are closely monitored by investors. Expert Matt Hougan suggested that existing legal uncertainties may become clearer around April-May, potentially creating a positive atmosphere for XRP investors.
Market analysts believe that as legal processes become clearer, investor interest in XRP may increase. For investors, the decisions of regulatory authorities alongside technical analyses will continue to be critical factors. New decisions regarding XRP’s legal status could significantly shape price movements.
XRP investors are advised to closely follow technical analysis data and legal processes to strategize effectively. While calculations based on wave theory are used to predict XRP’s future movements, prioritizing risk management is also emphasized for investors.
