As the cryptocurrency market rebounded following the announcement of tariff exemptions on the US dollar, optimism was reported that the price of XRP could also rebound.
According to reports, analyst DOM recently posted on XRP, "XRP recently traded at $1.96.
"The dollar has reaffirmed its holding line and reclaimed the core 'value zone' above $2.00 that was formed in December 2024," he said. "Our current target is $2.20.
"If it can break through that price range, it could rise to $2.50," he said.
The accompanying chart shows XRP at election VWAP (volume weighted average price).
The chart also showed a recovery to $2.03, suggesting the possibility of further upside, and added, "If $2.00 and the election VWAP hold as support, this chart is very positive."
According to the liquidation heat map, XRP’s immediate support is at $2.10, which also coincides with the 100-day exponential moving average (EMA).
Buying liquidity is gathering at this point, raising the possibility that this support line will be reaffirmed in the short term and moves to secure liquidity will emerge.
Meanwhile, after the recent bounce in XRP prices, anonymous cryptocurrency analyst Maelius
Based on the Elliott Wave Theory, he argued that XRP could reach $10, and in an optimistic case, even $15-20.
Maelius said, "The conservative scenario is that XRP has completed the W3 wave, is currently in the W4 wave, and then will enter the final W5 wave.
"The hypothesis is that the current price trend and RSI (relative strength index) are reflecting the 2017 cycle, with the RSI reaching the overbought zone (red resistance area)," he said.
If this cycle repeats, W5's target price could reach about $10 around the end of the year.
"A conservative estimate is based on the assumption that the upside for W5 will be similar to W3, in which case we would target $10," he said.
He also suggested that W3 may not be complete yet in this cycle, as the cycle is experiencing a longer accumulation period in terms of price and RSI than in 2017.
"So it's possible that we just finished a W3 within a larger W3 wave, but this cycle is just taking longer," Maelius said.
According to the analysis, in this case, the RSI will retest resistance, confirming that the third wave is complete, and the fourth wave within the third wave may continue for a long time, as in past cycles.
"In such a scenario, the eventual W5 peak could be extended from the first quarter to the second quarter of 2026, and the reserves could be reduced," Maelius said.
"A target of $15-20 or even higher is possible, which is higher than the conservative scenario."
2025/04/16 14:48 KST
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