- XRP has shown strong Fibonacci patterns in previous price cycles.
- XRP could surge to $5.37 or $11 if the second surge occurs.
- The price is currently in a correction phase with potential for a major bounce.
XRP’s price action is currently following key Fibonacci levels, with potential for a significant surge. After experiencing a correction, XRP could follow the patterns seen in past cycles, potentially reaching $5.37 or even $11 if the second surge plays out.
XRP Follows Fibonacci Patterns for Possible Major Surge
XRP’s price action has been closely tied to Fibonacci retracement levels, with past cycles showing a clear pattern. According to EGRAG Crypto’s analysis, XRP followed these Fibonacci extensions during previous surges in 2017 and 2021.
In 2017, the first surge was followed by a second surge that topped at the 2.618 Fibonacci level. However, the 2021 cycle saw a truncated surge at the 1.618 Fibonacci level, largely due to the ongoing SEC lawsuit. With the current market correction, XRP could follow similar patterns for a future surge.
Potential for a Major Surge After Correction
Currently, XRP is in the midst of a macro correction after the first surge, much like the previous cycles of 2018 and 2021. EGRAG Crypto suggests that the price may follow a familiar path, touching the 21 EMA before a major bounce.
The chart shows that the first touch of the 21 EMA in both previous cycles led to significant market structure shifts. If XRP maintains its structure and holds near the 21 EMA, it could set the stage for a second surge, targeting key Fibonacci levels. Targets include $5.37 at the 1.618 Fibonacci level and $11 at the 2.618 Fibonacci level.
Traders are watching closely to see if XRP can follow this pattern, which would signal a strong upward movement. A surge to these levels would mark a potential breakout from its current macro correction.
However, if the price fails to maintain the structure and closes decisively below the 21 EMA, it could break the cycle symmetry. The market remains uncertain, but Fibonacci levels continue to guide expectations for XRP’s future movement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
