A prominent crypto analyst has identified a critical breakout in XRP's prolonged consolidation phase, signaling the start of a substantial price rally. According to the analysis, XRP is nearing the end of an 11-year SuperCycle, which could propel its value to $3.4 upon completion.
SuperCycle Breakdown: Path to $3.4
Skyrexio, a TradingView analyst, highlights XRP's exit from a four-year consolidation period, aligning with the duration of its legal battle with the U.S. SEC. The analyst's bullish projection leverages the Elliott Wave Theory, outlining XRP's price movements since 2013:
- Wave 1 (2013): Initial upward momentum.
- Wave 3: Legendary price surge.
- Wave 4 (Last 3 years): Corrective triangle pattern—sideways trading below $0.5.
With the triangle pattern now broken, XRP enters Wave 5, the final phase of its SuperCycle. Skyrexio forecasts two targets:
- Conservative: $2.5
- Optimistic: $3.8 (90% historical likelihood, given Wave 5 typically surpasses Wave 3 highs).
👉 Why XRP’s breakout could redefine crypto markets
Current XRP Price Momentum
XRP’s recent 101.77% weekly surge—fueled by political developments—marks its first breakthrough above $1 in years. Key updates:
- Current Price: $1.16 (10.1% daily gain).
- Catalyst: Regulatory clarity and broader market optimism.
FAQ: XRP’s SuperCycle and Price Potential
Q1: What triggers XRP’s SuperCycle conclusion?
A: The breakout from a multi-year corrective pattern and positive regulatory shifts.
Q2: How high could XRP realistically climb?
A: Between $2.5 and $3.8, with $3.4 as the mid-range target.
Q3: Is XRP’s current rally sustainable?
A: Metrics like monthly bullish reversal bars suggest strong upward potential.
Q4: What risks could derail this surge?
A: Regulatory setbacks or broader crypto market downturns.
👉 Expert insights on crypto market trends
Key Takeaways
- XRP’s technical structure indicates a major rally.
- The $3.4 target hinges on completing Wave 5.
- Political and regulatory factors are accelerating price action.
Disclaimer: Cryptocurrency investments involve risk. Conduct independent research before trading.