Latest

Crypto Analyst Predicts XRP Price Crash Fall To $0.07 Amid Triangle Breakdown

Crypto Analyst Forecasts XRP Price Crash and Plummet Down to $0.07 After Triangle Pattern Breakdown

A renowned crypto analyst by the name of @Ripple_Effect11 has recently made a prediction of an impending price crash for XRP. His analysis, shared through X, is based on the emergence of a bearish breakout from a significant triangle pattern that has been forming since XRP’s all-time high of $3.84 on January 4, 2018. With certain technical events playing out, the analyst paints a bleak picture for XRP in the coming months, with a potential drop to as low as $0.07.

The basis of @Ripple_Effect11’s analysis lies in the application of Elliott Wave Theory, a form of technical analysis that anticipates future price movements by identifying recurring wave patterns linked to investor psychology. According to the theory, market movements generally unfold in five ‘impulse’ waves, followed by three ‘corrective’ waves.

In the case of XRP, the analyst notes that the cryptocurrency has been in a corrective phase since its peak in 2018, marked by an A-B-C correction pattern. Wave A experienced a sharp decline, dropping as low as $0.105 in March 2020. Wave B showed a partial retracement, rising to $1.96 in April 2021. Currently, XRP is in Wave C, which typically represents the final leg and involves another downward move, consequently completing the corrective phase.

The analysis suggests that within this final Wave C, XRP is undergoing its sub-waves. Currently, it is in the third wave, which is traditionally significant in terms of the depth and length of the price movement. Notably, the chart also displays a large triangle formation that has encapsulated XRP’s price action over several years. In technical analysis, a triangle often signifies a period of consolidation before the price breaks out decisively in one particular direction.

According to @Ripple_Effect11, the recent close below $0.42 indicated a bearish breakout from this pattern and further supports the theory of a substantial price crash. He stated, “No one is talking about this MASSIVE XRP triangle breakdown. A weekly close below $0.42 is extremely bearish.”

The analyst’s initial target is at $0.33, where minor psychological support may exist. The second target stands at $0.18, representing a more significant historical support zone. The third target lies between $0.12 and $0.14, possibly serving as interim support before a more substantial sell-off. This price level marks the end of the third wave.

During the fourth wave, the crypto analyst foresees the XRP price rebounding above $0.18, only to be followed by the final fifth wave, which is expected to push XRP further downwards. The ultimate target ranges between $0.07 and $0.08, implying a more than 80% crash from the current price level.

These targets align with the technical indicators displayed on the chart. The MACD is trending below its signal line, indicating bearish momentum. Additionally, the RSI is near 45, suggesting a lack of strong buying pressure and potential for further decline.

Offering further context to the technical analysis is the ongoing Ripple vs. SEC lawsuit, which the analyst highlights is projected to conclude by July 2026. The outcome of this legal battle is anticipated to have significant implications for the XRP price.

The analyst concludes by noting, “Smart money sees buy targets 3 and 4 as attractive before the big utility pump from 2026 to 2030. Ripple Vs SEC started in 2020. XRP was classified as NOT a security in 2023. Ripple wins the case, and XRP pumps hard in 2026. Will you be patient?”

At the time of writing, XRP is currently trading at $0.43448.

(Image source: Shutterstock, chart from TradingView.com)