XRP May Face Flash Crash Before Surpassing Record Price

Crypto analyst MetaShackle has published an Elliott Wave-based analysis of XRP's price movements, predicting turbulent price action ahead. According to the analysis, XRP may experience a flash crash in April, potentially driving prices to new lows before rebounding.

The correction could see prices fall to between $1.4 and $1.6, representing a 43% decline from current levels of around $2.44. This downturn would likely liquidate overleveraged positions and shake out investors with weaker conviction.

Despite the severity of the potential drop, MetaShackle considers this a necessary technical move before a genuine breakout can occur. The analyst forecasts that Wave 7 will begin in May 2025, potentially initiating a new price discovery phase for XRP.

This is not the only view on XRP's future, however. Market expert 'Steph Is Crypto' predicts that XRP could surge to $3.40 soon, which would represent a 39.34% increase from current market prices. This contradictory view highlights the uncertainty that continues to characterize cryptocurrency markets.