Reputed Analyst Says XRP Looks Ready for Its Final Drop Before Wave 5 Takes It to ATHs

Reputed silver-tongued analyst shares FOMC meeting predictions

He goes on to reveal what to expect next, remaining heavily bullish

Only certain factors could make the market bullish again, which the analyst breaks down.

As the crypto community hopes beyond despair that altseason will still play out this bull cycle, a few altcoins stand out above the rest, and this includes Ripple’s XRP. The altcoin XRP is expected to hit its new ATH soon, after about 8 years. Reputed analyst says XRP looks ready for its final drop before wave 5 takes it to new ATH prices. Can XRP hit double-digit prices this altseason?

Reputed Analyst Says XRP Looks Ready for Its Final Drop

Despite the many market liquidations, dumps, and FUD scenarios plaguing the crypto market most recently, one analyst remains unstoppably bullish on certain matters, and one such matter is that the altcoin XRP will go on to hit new ATH prices this bull cycle. This pump could trigger the long-awaited altseason and propel the price of XRP to much higher ATH prices, perhaps even to double-digit prices.

According to one reputed market analyst and crypto trader, XRP is reacting exactly as she expected after rejecting the Wave 4 resistance near $2.68. The price of XRP is now turning bearish, and RSI is making a new low, starting to confirm that Wave 5 down is underway. She says for Coinbase in particular, the key support levels to watch are $2.42, $2.03, and $1.65, and that breaking below $2.42 would confirm continuation toward the lower targets at $2.03 & $1.65. Both lower levels have alignment with the Wave 5 extension

The analyst then states that if including the wick from the crash, the target lands right at $1.65, the macro 0.618 retracement. This move should complete the final wave of the correction before a massive Wave 3 impulse up. Once the bottom forms, the next impulse should be fast and obvious, cutting through resistance on the way to new highs. As the price approaches W5 support, the analyst reveals that she is watching the RSI for a bullish divergence to confirm exhaustion

Wave 5 to New ATH Prices to Follow

The analyst also adds that a new RSI extreme would mean further lows can be expected, while October looks set to finish weak, but November could kick off the next major wave. With all eyes on the $2.42 support, it is interesting to see BTC not coming to its target while XRP hit perfectly. Then she says to remember that Wave 5 would form a 5-wave impulse down, not a straight line down, making it possible for Wave 1 to find support at $2.42 and then break with Wave 3 or 5.

The analyst concludes with two scenarios of the Wave 5 down future. One has alignment to the 0.5 support, while the other is aligned to the 0.618 support. The fact that many are selling is also sign that Wave 2 correction is doing what it is supposed to. Lastly, the analyst says Wave 3 is just around the corner and that she is confident in the bounce after these lows, expecting the bounce to take place in early November.