Analyst Predicts XRP Price Rebound To $2.60, Here’s How
Highlights
- CasiTrades predicts that the XRP price could rebound to $2.60, having found a local bottom.
- This price rebound to this target will happen as part of the D wave.
- The analyst also raised the possibility of XRP reaching $2.80 following this price rebound.
Crypto analyst CasiTrades has provided some optimism as she predicts that the XRP could rebound to as high as $2.60. This came as she revealed that the crypto has found its local bottom.
XRP Price Rebound To $2.60 On The Cards
In an X post, CasiTrades predicted that the XRP price could rebound to $2.60. She stated that XRP had found its local bottom and held strong without making a new low below Wave C.
She remarked that this is key for the D wave. While analyzing the sub-waves left in the D wave, CasiTrades stated that her next targets are $2.25 and $2.40.
She expects this wave to extend toward $2.40, with the final 5th subwave reaching $2.60 to complete the D wave. The analyst added that she would closely watch how the subwaves form and how the price behaves around $2.60.
CasiTrades also mentioned that a resistance at $2.60 is expected, but there is a chance that the E wave will fail and XRP will push into new highs earlier than expected.
Meanwhile, the analyst’s accompanying chart showed that XRP could dip to $2.3 on the E wave and then rebound to as high as $2.80. This rebound to $2.80 could then pave the way for the crypto to rally to new highs.
Crypto analysts like Ali Martinez have also provided a bullish outlook for the XRP price heading into the new year. The crypto analyst predicted that the crypto could rally to as high as $11 in 2025.
Analysis Of The Bull Market Support Band
In an X post, crypto analyst Egrag Crypto provided an in-depth analysis of the Bull Market Support Band (BMSB). He stated that the bulls are fiercely defending the BMSB.
The analyst noted that when the BSMB surpasses $2, it signifies a strategic advantage. In line with this, he remarked that as long as the XRP price remains above $2, the BMSB should ideally catch up and stabilize above this level.
Egrag Crypto further remarked that achieving this would be a tremendous gift at the start of 2025, demonstrating that the Bears are unable to push prices below $2 due to the strong defense from the Bulls.
The crypto analyst has high expectations for the XRP price in 2025, predicting that the crypto could reach $27 next year. He explained that such a parabolic rally could happen since XRP witnessed a 50,000% in 2017.
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