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Crypto Analyst Calls Wave 5 To Send XRP Price Above $6
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Crypto Analyst Calls Wave 5 To Send XRP Price Above $6

Scott Matherson
Scott Matherson
4 weeks ago
2 mins read
XRP

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With the XRP price struggling to break out of consolidation, there is still a lot left for the altcoin to do before a definite uptrend can be registered. So far, it seems that the XRP price has already made its way through multiple support levels. However, a wave count is yet to begin that could send the altcoin soaring, according to an XRP analyst. This could mean that the cryptocurrency has more upside to come, especially as the market is expected to usher in an altcoin season.

5 Wave Counts Coming For XRP Price

Crypto analyst Dark Defender took to X (formerly Twitter) to expound upon where the XRP price could be headed next. This comes after a retest of the $2.22 level and the eventual rejection from this level. The result of this is a bearish retest of the support at $2.13, a level that could be the defining moment for the bears. Nevertheless, bullish expectations are still rampant and Dark Defender has revealed how this could play out for the XRP price.

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As the altcoin is expected to move through five waves, the first of these waves is naturally expected to be bullish. The crypto analyst says the XRP price correction is now nearing its end and this could mean the start of this first wave. This wave, if it plays out correctly, could push the price to $2.8 in the first instance.

On the next wave, the price is expected to correct sharply, triggering an almost 20% crash and pushing toward $2.3. However, with the third wave being more bullish than the first, another bounce would set XRP on a path above $4. In this instance, the XRP price would’ve reached a brand-new all-time high, with the expectation of beating its 2017 high of $3.8.

XRP price
Source: X

Next is the fourth bearish wave and this would push the price back below $4 again, but not for long. Once the fifth and final wave is underway, it is expected to push the price even higher. For this wave, the crypto analyst sees the XRP price rising as high as $6.3 for the final leg-up.

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Interestingly, all of this is expected to happen in the short-term, which means sometime in 2025. The shared chart shows a completion of the five waves by December 2025, giving only seven months for all of this to play out and reach above $6.

However, there is still the possibility of invalidation, especially as support for the first wave is expected at $1.88. A break below this level could trigger further downside and lead to the complete breakdown of the XRP price.

XRP price chart from TradingView.com
Bears testing levels of support | Source: XRPUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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