A prominent market analyst shares bold price projections for XRP and Bitcoin as an extended Elliott Wave pattern nears completion.
Market analyst CrediBULL maintains a bullish stance on both cryptocurrencies despite recent bearish trends. Bitcoin has declined 13.2% since February, while XRP has dropped approximately 13.22% over the same period.
Bitcoin's Elliott Wave Journey
CrediBULL's analysis reveals Bitcoin's adherence to a multi-year Elliott Wave structure:
- Wave 1 (March–April 2023): Rally to $31K
- Wave 2 (April–June 2023): Correction to $25.5K
- Wave 3 (June 2023–March 2024): Surge to $73.8K
- Wave 4 (March–September 2024): Pullback to $52.5K
The current Wave 5, initiated in September 2024, is projected to culminate at $150K following a temporary correction. This aligns with broader market movements, including the Q4 2024 rally influenced by political developments.
XRP's Parallel Wave Structure
XRP's Elliott Wave pattern emerged later, beginning Q4 2024:
| Wave Phase | Timeline | Price Movement |
|---|---|---|
| Wave 1 | Nov–Dec 2024 | $2.8 peak |
| Wave 2 | Dec 2024–Present | Ongoing correction |
CrediBULL anticipates:
- Wave 3: Potential rally to $16 (545% increase)
- Wave 4: Expected correction to ~$12
- Wave 5: Final push to $28 (1,029% from current levels)
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Technical Indicators Favor XRP
Current market data shows:
- XRP: $2.48 (-0.6% daily, +25% weekly)
- BTC: $88,171 (-4% daily, +11% weekly)
Analyst Mikkybull highlights XRP's strong chart setup:
- Ascending channel against USD
- Symmetrical triangle versus BTC (3-day timeframe)
Both patterns suggest bullish potential if upper trendlines break.
FAQ Section
Q: How reliable are Elliott Wave predictions?
A: While historically insightful, wave patterns require confirmation through volume and momentum indicators.
Q: What's driving Bitcoin's Q4 2024 surge?
A: Multiple factors including institutional adoption and macroeconomic conditions contribute.
Q: Why does XRP's wave structure differ from Bitcoin's?
A: Altcoins often exhibit delayed correlation with Bitcoin's market cycles.
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Key Takeaways:
- Bitcoin's Wave 5 could reach $150K
- XRP may achieve $28 in final wave phase
- Both assets show strong technical foundations
Disclaimer: This analysis represents market commentary only. Cryptocurrency investments carry substantial risk—always conduct independent research.