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The XRP price has been consolidating for a prolonged period after its previous rally. However, a cryptographic analyst warns that cryptocurrency could face a flash In April, potentially lead its price to new minimums. Despite this, the analyst anticipated that the recession can be of short duration, predicting a rebound shortly after.
Metashackle, a cryptographic analyst in TrainingView, has shared a graphic that presents a Elliott wave -based analysis of XRP price movements. The analyst has also used technical levels such as fair value gaps (FVG), liquidity areas and trend lines to determine Action of the next XRP price.
XRP false price breakout ahead of flash crash
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The XRP price table follows an advanced 6 wave pattern, with a possible break of the 7th wave. XRP is currently on wave 4 of a larger cycle. While waves 1 to 3 represented a strong upward movement, wave 4 activated a Important correction for the XRP price. If wave 4 is completed, the price of cryptocurrency could push higher in Wave 5, reaching $ 2.80 – $ 3.00, where a FVG is expected. This movement would create a false rupture, drawing liquidity above the recent maximums.
After the projected false rupture, XRP is expected to experience a flash block in Wave 6 in April 2025. This flash block will probably be maintained above the lower white trend line after breaking the higher trend line and aim at the green objective area between $ 1.6 and $ 1.4 $ highlighted by the table.
The flash block in April is a theoretical movement in which the XRP price becomes sharply before a real break. This rupture is expected to begin in wave 7, which can lead to a Price discovery for XRP and achieve a probable objective of $ 3.00 before shooting at new maximums higher than $ 3.6.
In particular, the analyst predicts that Wave 7 will begin in May 2025. It is anticipated that the break will obtain previous maximums of all time for Altcoin, overcoming its Price record of $ 3.84 In 2018.
Update on price analysis
The XRP price is now quoted at $ 2.44 after increasing 4.56% in the last week. Despite a acute price accident Since its maximum of $ 3.00 earlier this year, the cryptocurrency is still resistant, and analysts are closely observing their next movement.
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In particular, analysts continue to take a bull posture about the XRP price perspectivepredicting a possible short -term rupture. An expert on the X market (previously Twitter), identified as ‘Steph is cryptography’, forecasts that the asset could increase to $ 3.4 soon, marking a 39.34% leap from its market price.
Outstanding image of Adobe Stock, TrainingView.com box
