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XRP: Can Mathematical Targets For Ripple Realistically Reach $26?
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XRP: Can Mathematical Targets For Ripple Realistically Reach $26?

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
xrpusd xrpbtc ripple xrp crypto altcoin math

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XRP is often the butt of many jokes across the crypto space due to general distaste toward the altcoin and years of underperformance. But one of the biggest running jokes going is a call made for $589 per token, considered a mathematical impossibility.

However, could Ripple eventually reach other, more reasonable targets based on math commonly used to find turning points in financial assets?

Will Ripple Ever See a Recovery To Former Highs Or Beyond?

An old crypto analyst prediction has haunted them since the day it was made. A call for $589 per token in XRP has turned into a long-standing meme.

People love to hate the crypto asset known as Ripple. It was a hated coin during the crypto hype bubble due to accusations of centralization compared to Bitcoin and Ethereum.

But unstoppable hype surrounding the entire asset class propelled the altcoin to over $3.50 at its high, from less than a penny a year prior. The incredible growth prompted mainstream media coverage, and outlets like CNBC taught traders how to buy the top.

Related Reading | The Price Trend of XRP Stunningly Reflects That of Sheep Manure Stock

XRP crashed by over 90%, and each rally sold back down by Ripple executives only fueled further underperformance and distrust in the asset.

But all markets are cyclical, and XRP is showing multiple signs that a recovery is near after almost 900 days of a downtrend. All the pent up momentum in Ripple could result in a powerful breakout and surge.

In the past, the asset has grown thousands of a percent against USD and BTC, and chances are, it will happen again. But next time around, how high could Ripple go? According to various analyst’s take on mathematics, it could be anywhere from $5 to $26 per XRP token.

XRP Fibonacci Extensions Set Next Peak Targets From $5 To $26

$589 per token in XRP is not possible, even if its market cap absorbed all the assets and wealth in the world. The math just doesn’t add up.

However, other predictions are much more mathematically realistic.

Fibonacci numbers and their ratios are often used in trading to plot potential areas of interest. Such areas include support and resistance, where reversals may occur, and targets where current resistance doesn’t yet exist.

According to one crypto analyst, XRP could potentially reach $26 per XRP token if the asset reached a Fibonacci extension of 1.618. NewsBTC in-house analysts offer a different take on the same Fibonacci extension, pictured below.

xrpusd xrpbtc ripple xrp

Ripple XRPUSD Fibonacci Extension Fractal | Source: Trading View

In this exclusive analysis, a Fibonacci extension is cast from the top of the 2018 peak to the recent bear market bottom. Extensions taken from there located at 1.618, 2.618, 3.618, and 4.326, would represent $5.60, $9.10, $12.50, and $14.60, respectively.

Superimposing a breakout fractal of the last major Ripple explosion, tracks along to the highest of the Fibonacci extensions perfectly.

Related Reading | Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 XRP

Given how strong that impulse was, it is unlikely a repeat is quite as powerful, making the lower targets a lot more realistic. In terms of market cap, an important factor in why the $589 call has been laughed at, the lower targets are theoretically far more realistic.

Any of them would be a new all-time high for the crypto asset, and make Ripple investors rich once again.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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