- Analyst marks XRP hitting the holden pocket.
- Expects the altcoin’s price to enter Wave 4 relief.
- This could propel the price of XRP to hit new ATH prices soon.
The crypto market continues to sway through rocky waters as the price of BTC continues to strive to claim higher prices and hold critical price ranges. Amidst these challenging times, a handful of bullish altcoins show strong signals for bullish rallies in the coming days ahead. Amongst the bullish altcoins in the market is Ripple’s XRP. One analyst marks XRP hitting the golden pocket, and expects the altcoin’s price to enter a wave 4 relief rally.
Analyst Marks XRP Hitting the Golden Pocket
Of the many popular altcoin assets in the crypto market, Ripple’s XRP is one of the most bullish assets. To highlight, only a few altcoins went on to hit new ATH prices this bull cycle. These include SUI, FET, and ONDO from new altcoins and BNB, SOL, and ETH from older altcoins. Despite these price surges, the pumps pulled off from them have not been as impressive as their chart indicators suggest.
This led to analysts believing that the peak of the altcoin pump phase has yet to arrive, especially considering that the prices of most altcoin assets have not had a chance to surge in prices yet. Among the remaining bullish assets Cardano’s ADA and Ripple’s XRP show great potential for exponential pumps to play out over the coming weeks and months ahead.
Presently, anticipation for the price of XRP to surge is somewhat greater as the asset missed the previous bull cycle pumps due to its ongoing battle with the SEC. After 8 years of dealing with that lawsuit and walking away triumphantly, the price of XRP finally surges twice over the last 2 years. Despite these small and short pumps, XRP has yet to reclaim its previous ATH price, leading analysts to keep a close eye on the XRP price chart, expecting significant price surges soon.
Altcoin’s Price Expected to Enter Wave 4 Relief
According to CoinMarketCap analytics, the price of XRP is currently trading at the $1.61 price range, after having dipped as low as the $1.5 price range, marking a dip of over 14% over the past week. During this dip, one analyst believes a major bullish signal has come through by highlighting that the price of XRP has entered a golden pocket. Thus, she expects a Wave 4 relief rally to ensue.
As the expert explains in the post above, XRP landed nicely at the 1.618 extension for Wave 3. From here, she expects a Wave 4 relief to begin, with the first resistance set at the $1.78 price range, which also lines up with the prior support breakdown and could act as a backtest of resistance. However, it is important to remember that Wave 2 was very shallow, meaning the wave 4 retracement could go deeper.
Because of that, it’s possible this Wave 4 pushes higher, toward $1.93, or even up to the $2.03 macro .5 retracement. The price of XRP needs to reclaim $2.03 and hold it as support. That would invalidate the need for another wave down toward the $1.55 price target or lower, and ideally cause the final wave 5 to fail. While nothing is confirmed yet, a bullish divergence and resistance breakout might occur.
