XRP Analyst Sees $20 Target as Impulsive Move Unfolds
Crypto analyst Amonyx is predicting a significant price increase for XRP, forecasting that it will reach $20. This projection is based on a long-term technical analysis incorporating Elliott Wave Theory, which the analyst presented in a recent chart shared on social media.
Amonyx's weekly chart tracks XRP's performance through several market cycles, applying Elliott Wave labels to illustrate connections between past corrective phases and subsequent advances. The latest wave sequence positions XRP in the midst of a larger impulsive move, according to the analyst's interpretation.
The technical roadmap sets out a recovery phase described as wave (1), with XRP currently positioned at $1.42. The next expected step, wave (2), suggests a pullback to around $2.70. Wave (3) is then projected to lead toward the $8.50 area.