- XRP is predicted to hit $18 by mid-2025 as an analyst observes the exhibition of the Elliott Wave Theory movement.
- According to another analyst, the asset could reclaim the 2017-2018 peak and continue to hit $20.
Ripple’s XRP has renewed its bullish momentum with a 7% surge on its 24-hour price chart and a 12% surge on its seven-day chart. However, its trading volume remains 9% down, with $6.9 billion changing hands.
From the current price of $1.59, analysts believe that the asset could retest the $1.63 resistance level and charge up towards the $1.70. According to data, this could be its highest price ever recorded since 2018. However, a mitigation of the current momentum could force a bearish reversal to $1.27 or even $1.05.
Subjecting the asset to further analysis, we discovered that XRP’s Relative Strength Index (RSI) was “sitting” at the neutral zone of 53.2. According to our analysts, this position implies that the asset is currently consolidating after a recent explosive run. However, there is more room for further upsurge. Between November 21 and 23, XRP’s RSI was found above the 70 territory, signaling an overbought condition.
A look at the Ripple Chaikin Money Flow (CMF) also shows that capital inflow has considerably reduced. Specifically, the indicator was reading -0.05 from the 0.10 recorded when XRP was trading at $1.63.
Meanwhile, the EMA line showed bullish momentum. According to market data, the short-term lines were trending above the long-term lines, which indicates an ongoing uptrend.
How Far Can XRP Reach?
According to analyst Dark Defender, XRP can rise as high as $18. Using the Elliott Wave Theory analysis, Dark Defender pointed out that XRP is in the third wave. In this case, a move to the upside would take the asset to $5.8 before the year ends. From this point, the next move would see the asset pulling back to the bottom of the next wave to start another run. Per his observation, XRP would decline to $4 before embarking on the bull run to $18, and this could happen by mid-2025.
For an analyst identified as Armando Pantoja, the next stop of XRP could be around $2 and $2.10. In his thesis, Pantoja highlighted the incredible run of the asset to break multiple resistance levels to target the 0.786 Fibonacci level at $1.61. According to him, XRP would easily “cruise” to $8 once it successfully breaches the $2 price zone and turns it into support.
Agreeing with this position, renowned analysts, including Ali Martinez and CrediBULL Crypto, have hinted that $2 could be the next stop.
Reviewing a thesis by analyst CryptoBull, we discovered that the current uptrend could continue until XRP reclaims the 2017 peak.
According to him, XRP would hit $20 if it imitates the previous bull run.
Analyzing the XRP price in Dollars vs Bitcoin shows us how early we are in this bull run. We are still 1,500% behind in Bitcoin value compared to early 2017. If we meet the same Bitcoin value $XRP price will be around $20.
