Experts Debate Ripple's XRP Future, ABC Correction, or Grand Wave 3?

June 28, 2024 at 01:19 PM GST 2 mins read News

Analysts debate Ripple’s future, predicting either a significant drop or a bullish surge.
Alessio Rastani predicts XRP could drop to 13 cents using Elliott Wave Theory.
DarkDefender argues that XRP is set for a bullish move, likening it to Silver’s 2017 pattern

The cryptocurrency market is buzzing with debates about the future of Ripple (XRP), with prominent analysts offering conflicting predictions. One analysis comes from Alessio Rastani, a respected voice in the field.

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Hi all, Yesterday, I watched an #XRP analysis from @alessiorastani. He is one of the most reliable analysts in the market, and I respect what he does.

So, it's an ongoing discussion, especially since Alessio Rastani anticipates XRP to hit a minimum of 13 cents and below by 2025.… pic.twitter.com/d7vTiyPfH0
— Dark Defender (@DefendDark) June 27, 2024

According to Alessio Rastani, XRP is currently in a corrective wave pattern, specifically an ABC correction, which could see its price drop to as low as 13 cents by 2025. Rastani bases his prediction on Elliott Wave Theory, a popular technical analysis method.

He argues that XRP is in the C wave of an ABC corrective pattern. In Elliott Wave Theory, C waves often mirror the length of A waves or extend up to 1.618 times the length of A waves. Rastani’s analysis hinges on this principle, suggesting a significant decline in XRP’s value.

Contrasting Views

Not everyone agrees with Rastani’s bearish outlook. Dark Defender, another well-regarded analyst, has voiced a contrasting perspective. DarkDefender contends that XRP has already completed its C wave and is poised for a bullish move.

According to Dark Defender, XRP is in Wave E, not Wave C, and the five-wave corrective structure has already played out. This interpretation indicates that the corrective phase is over, and XRP is set for an upward trajectory.

Dark Defender’s analysis draws parallels with historical patterns observed in other assets, like Silver in 2017. He points out that Silver experienced a similar impulsive wave followed by an ABCDE corrective structure, which ultimately led to a significant bullish wave.

Applying this analogy to XRP, DarkDefender suggests that XRP’s surge is imminent . While both analysts agree on the current corrective phase, their interpretations diverge significantly.

Rastani sees further downside potential, warning that XRP could fall to 13 cents. In contrast, DarkDefender believes the worst is over, pegging 39 cents as the critical support level before an anticipated bullish surge.