XRP, the fourth-largest cryptocurrency, is currently trading at $2.35 and is expected to reach $6 amidst a market downturn. Crypto analyst “CryptoBull2020” predicts that XRP is close to finishing its correctional pattern and could see a surge soon, fueled by the launch of the RLUSD stablecoin.
The Elliott Wave Theory, used by CryptoBull2020, suggests that XRP is in its fifth wave, which is typically the most bullish stage. XRP has seen a 283.68% increase since December, indicating a strong possibility for a bullish fifth wave. The trade volume for XRP has also risen by 26.54% in the past 24 hours.
Factors such as Ripple’s technology gaining attention and a positive outcome in the lawsuit with the SEC could push XRP to $6. The use of RLUSD could also benefit XRP holders. The Relative Strength Index (RSI) currently stands at 58.03, indicating a bullish trend for XRP and a potential price rebound to $2.5.
It is important to note that the information provided is for educational purposes only and should not be considered financial advice. Readers are advised to use caution and do their own research before making any investment decisions related to XRP or any other cryptocurrencies. Coin Edition does not accept responsibility for any losses incurred from acting on the information presented in the article.
