XRP Price Rebound: Boosted by Trade Tariff Pause and Elliot Wave Analysis
XRP's (XRP) Cost Increases by 15% Post Trump's Tariff Suspension Declaration
Get ready to buckle up, because we're about to delve into the exciting world of cryptocurrency as we explore the recent surge of XRP! After a steep decline to a multi-month low of $1.64 on April 7, XRP has made a huge comeback, skyrocketing 15.3% to reach a high of $2.08 on April 9.
But what's the secret sauce behind this incredible rebound? Well, it all started when President Trump announced a 90-day pause on tariffs (excluding those with China) on April 9. This move sent ripples throughout the market, with major crypto players, like Bitcoin, reacting favorably to the news.
Now, here's where things start to get really interesting. Some analysts are predicting that XRP could drop below $1 before potentially reaching an impressive all-time high of $20 during a Wave 3, thanks to an Elliot Wave Analysis.
Want to know if XRP is Set for a Bull Run?
According to this analysis, XRP has completed its first wave after rallying from $0.50 to $3.40. The current phase, Wave 2, might see the price dip to a buy zone between $1.70 and $1.00, with a temporary drop below the $1 psychological level possible due to market volatility.
But don't fret, because once Wave 2 completes, Wave 3 could catapult XRP to a jaw-dropping $20. If XRP achieves this all-time high, its market cap at current supply would reach an astounding $1.16 trillion! But hey, even the most optimistic analysts admit that such price targets could take years to materialize, given current market conditions.
In the short term, a bullish crossover on the XRP/BTC weekly chart, recently highlighted by EGRAG Crypto, shows promising signs. This pattern, which occurred just twice before in XRP/BTC history, has previously led to a staggering 958.97% surge in the XRP/BTC ratio.
So, what does this mean for XRP? Well, if history repeats itself, and if Bitcoin manages to sustain its macro uptrend, XRP could climb to roughly $16.5 if Bitcoin trades at $97,000, $22 if it hits $130,000, and an impressive $25 if it reaches $150,000. And if Bitcoin manages to push to an eye-popping $170,000, XRP could potentially soar to an approximated $29!
That's not all, folks. Short-term analysis shows XRP trading in a value area between $2.11 and $2.60 from December 2024 to April 2025. If XRP can maintain a position above $2.11, it could test $2.41 or $2.60.
Now, there are numerous factors that could impact XRP's direction in the coming weeks, including Bitcoin's price movements, macroeconomic developments, and any updates in the U.S.-China trade tensions. But one thing's for sure: shorter-term targets, such as $2.41 and $2.60, seem much more realistic given current market conditions.
Keep your eyes on XRP, because things are looking pretty darn exciting in its corner of the crypto world!
[1] https://www.tradingview.com/chart/XRPUSD/b4xYJrk8/[2] https://www.newsbtc.com/2022/04/08/ripple-price-prediction-xrp-eyes-staggering-gain-as-xrp-finds-support-at-key-psychological-level/[3] https://www.fxempire.com/news/market-commentary/xrp-looks-poised-to-test-psychological-$2-level-as-buyers-fight-back-1169483169[4] https://www.omnhq.com/crypto/ripple-price-prediction/[5] https://www.omnhq.com/crypto/ripple-price-prediction/
- Amidst the recent surge of XRP, many investors are questioning whether this cryptocurrency is set for a bull run, given its potential to reach an impressive all-time high of $20 during a Wave 3, as predicted by Elliot Wave Analysis.
- As XRP/BTC weekly charts suggest a bullish crossover, similar to two previous historical instances, there's a possibility that XRP could climb to approximately $16.5 if Bitcoin trades at $97,000, $22 if it hits $130,000, and an impressive $25 if it reaches $150,000, signaling an exciting future for this cryptocurrency in the tech-driven finance sector.
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