- Altcoin XRP completes bounce and analyst expects action.
- First a wave 3 down price movement will occur for XRP to fall below $1.
- After this a surge to new ATH is expected as the altcoin is positioned for a bull run.
The crypto community has been patiently waiting for a bullish altseason phase since before the previous bull cycle began, This is because several altcoins have been printing bullish indicators across their price charts since before Bitcoin began its previous bull run. Now, most altcoins are expected to pump and usher in altseason. In particular, XRP completes bounce and analyst expects wave 3 down price movement.
XRP Completes Bounce and Analyst Expects Wave 3 Down Price Movement
The delay of the previous bull cycle’s altseason peak phase has left most altcoin holders and traders exhausted and altcoin analysts beyond frustrated. Since 2023, several altcoin price charts have been forming multi-year bullish indicators, thus flashing bullish pump signals across their respective price charts. In fact, even the complete altcoin price chart has been building up for a bullish surge in recent times.
Last year, when the altseason pump phase was expected, the price of altcoins instead experienced two consecutive market correction phases led by Bitcoin (BTC), following these events, the prices of altcoins went on to bottom and recover, but most failed to reclaim previous ATH prices or set new ATH prices of their own. So far, only a handful of altcoins set new ATH prices, which were still somewhat disappointing.
XRP Positioned for Bull Run
Of the many popular altcoins in the market at the moment, Ripple’s native token, XRP, is one of the most bullish. At the moment, the price of XRP is trading at $1.33, according to CoinMarketCap analytics. This means the asset is down by over 3% in the last 24 hours, boasting a total market cap of $81,985,297,670.06 and a 24-hour trading volume of $2,515,599,990.27.
As we can see from the post above, this expert says that XRP is sitting around $1.35 and people think nothing’s happening. What is important to remember is that the network is busy pushing over 2.7 million transactions every day. With money moving through it constantly, it keeps AMMs alive and growing. With rates still high and the Dollar still strong, liquidity still tight, slowing crypto price pumps.
Currently, Bitcoin holds the top spot because it’s where money hides in this environment. When liquidity loosens, capital will move quickly to what’s already working. Thus, the expert concludes that XRP is already positioned for a parabolic price pump. Another expert in the post above says XRP completed a bounce, meaning a wave 3 down price movement will occur soon. The price of XRP could drop below $1 before it will surge to hit new ATH prices.
