Crypto analyst @Ripple_Effect11 has recently made a bold prediction regarding the future of XRP, foreseeing a potential crash in its price to as low as $0.07. This prediction is based on a technical analysis that highlights a bearish breakout from a major triangle pattern that has been forming since XRP’s all-time high of $3.84 back in January 2018.
The analysis is rooted in the Elliott Wave Theory, a form of technical analysis that identifies recurring wave patterns linked to investor psychology to predict future price movements. According to @Ripple_Effect11, XRP has been in a corrective phase since its peak in 2018, following an A-B-C correction pattern. The current phase, Wave C, is typically the final leg of the correction, involving a downward move that completes the cycle.
The analyst’s analysis suggests that XRP is currently in the third wave of Wave C, a crucial phase that indicates significant depth and length in price movement. Additionally, a large triangle formation on the chart has been identified, indicating a period of consolidation before a decisive breakout in one direction. Last week’s close below $0.42 confirmed a bearish breakout, further supporting the theory of a substantial price crash.
Targets set by the analyst include $0.33 as the first target, with minor psychological support, followed by $0.18 as a more significant target representing a historical support zone. The third target ranges between $0.12 and $0.14, acting as interim support before further selling pressures. The final target predicted by the analyst is between $0.07 and $0.08, signifying an over 80% crash from the current price level.
Technical indicators on the chart, such as the MACD trending below its signal line and the RSI near 45, imply bearish momentum and a lack of strong buying pressure, potentially leading to further decline in XRP’s price.
Adding context to the technical analysis is the ongoing Ripple vs. SEC lawsuit, expected to conclude by July 2026. The outcome of this legal battle is anticipated to have significant implications for XRP’s price, with potential growth expected post-2026 if Ripple wins the case.
While these predictions may seem alarming to XRP investors, it’s essential to conduct thorough research and consider all factors before making investment decisions. The cryptocurrency market is highly volatile and subject to rapid changes, making it crucial for investors to stay informed and seek professional advice when necessary. As always, it’s important to exercise caution and make informed decisions based on your financial goals and risk tolerance levels.