A renowned Chartered Market Technician Tony ‘The Bull’ Severino has chimed in to offer his take on the next move for Ripple’s (XRP) price. The crypto analyst took to X to reveal a projected timeline to a double-digit XRP bull run, basing this forecast on the Elliott Wave Theory.
Bullish Elliott Wave To Take XRP’s Price To $13?
In fact, Tony Severino projects XRP coin to reach as high as $13 in 40 days. This is due to the fact that the 5th Elliott Wave triangle resembles the regular bullish breakout triangle, so the 6-bar long fifth wave could be the most powerful yet, coming after a corrective fourth one.
However, that doesn’t erase the fact that Tony Severino expects a harsh market correction looming afterwards. On a weekly chart basis, XRP coin’s recent price movement indeed mimicked the structure of the 2017-2018 Ripple coin (XRP) bull race, claiming the OG altcoin a brand new all-time high of $3.65 after 7 years of wait.
Can XRP Hit It Big On Ripple’s U.S. Bank License?
Ripple’s XRP coin has proven to be a big player in the cross-border transaction field, normally hitting $10 billion in daily trades in a bull market. As the United States Securities and Exchange Commission (SEC) softened the pressure & decided to settle with Ripple for $150 million, the news sparked a tremendous bull run back in January.
Now, Ripple is awaiting news from the OCC in regards to the banking license in the United States, which would open many new doors for the tech giant’s RLUSD. Additionally, the XRP Army is looking forward to Ripple-based exchange-traded funds (ETFs). With 11 submissions in place, the SEC is ought to react by the end of October to approve or deny the ETF pitches.
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People Also Ask:
Analysts using Elliott Wave theory predict XRP could jump to $13 soon, based on market cycle patterns seen on X. It’s a bold guess, not a lock.
Elliott Wave spots XRP in a bullish phase, with past surges hinting at a big rally. It’s speculative, but analysts see a possible spike.
Ripple’s legal wins and new projects like a stablecoin are fueling optimism. Rising investor interest keeps the momentum hot.
The crypto market is pretty wild, and big predictions can flop without strong demand. Play it safe, as prices can swing hard.
Ciphera’s got the freshest updates on XRP’s price predictions and Ripple’s moves—check us out for regular Ripple updates.
