Crypto Analyst Forecasts XRP Price Plummet to $0.07 Following Triangle Breakdown
Crypto Analyst @Ripple_Effect11 Warns of Impending XRP Price Crash to $0.07 Due to Triangle Breakdown
A prominent crypto analyst, @Ripple_Effect11, has issued a stark warning about XRP’s future price trajectory based on recent technical analysis. The analysis, rooted in Elliott Wave Theory, identifies a significant bearish breakout from a triangular pattern that has developed since XRP’s all-time high of $3.84 on January 4, 2018. According to the analyst, this pattern signals a potential plunge in XRP’s price, potentially dropping to as low as $0.07, contingent upon specific technical developments.
The Elliott Wave Theory utilized by @Ripple_Effect11 predicts market movements by recognizing repetitive wave patterns linked to investor psychology. In XRP’s case, the analysis highlights a corrective phase since its peak, characterized by an A-B-C correction pattern. Wave A witnessed a steep decline to as low as $0.105 in March 2020, followed by Wave B’s partial retracement to $1.96 in April 2021. Wave C, currently underway, typically marks the final phase of correction, often involving another downward movement to complete the cycle.
The analyst points out that within Wave C, XRP is currently progressing through its sub-waves, particularly emphasizing the significance of the third wave in terms of depth and duration of the price decline.
Moreover, the analysis identifies a large triangle formation spanning XRP’s price action over multiple years. In technical terms, a triangle indicates a period of consolidation before a decisive breakout in one direction. Last week, XRP’s price closed below $0.42, confirming a bearish breakout from this pattern and reinforcing the projection of a substantial price crash.
@Ripple_Effect11 has outlined specific price targets based on these analyses: an initial target at $0.33, followed by a more substantial target range between $0.12 and $0.18, which historically represents critical support levels. The final target, projected between $0.07 and $0.08, signifies a potential decline exceeding 80% from the current price level.
Supporting these forecasts are technical indicators on the chart, including the MACD trending below its signal line, indicating bearish momentum, and the RSI hovering around 45, suggesting limited buying pressure and potential further decline.
The analysis also takes into account external factors such as the ongoing legal battle between Ripple and the SEC, anticipated to conclude by July 2026. The outcome of this lawsuit is expected to carry significant implications for XRP’s future price trajectory.
In conclusion, @Ripple_Effect11 underscores potential buying opportunities at lower price levels before a projected utility-driven price surge from 2026 to 2030, contingent upon Ripple’s legal victory and subsequent market dynamics.
As of the latest update, XRP is trading at $0.43448.
